The wealth gap between 1st world countries and 3rd world countries seems to be increasing. How can we reduce this gap? Do you think that developed countries have a duty to assist developing countries in every way?
In recent times, it is found that there is a significant difference in various aspects between 1st
world
countries
and 3rd world
countries
. Among several, the wealth gap between those countries
appears to be alarmingly increasing. Such
disparity can be reduced by the implementation of new industrial and manufacturing developments , self-sustainability through in-house development
and most importantly by developing better infrastructures and education facilities. The aforementioned factors and the way to achieve the same are described in the upcoming paragraphs.
Firstly
, to reduce the prosperity gap , it is important to have a better economy. This
can be generally obtained by industrialisation. For ,example more production sites will enhance the revenue to the country, which obviously helps to improve the quality of life. Infrastructure development
is key to getting the attention of any industry. In addition
, providing a high level of education can create new entrepreneurs in the country itself. This
not only improves the financial stability but also
helps the self-sustainability of developing countries
.
The above-discussed solutions are not an easy walk , considering the unavailability of funding and lack of technology enhancement. To develop infrastructure development
, industrialisation in developed countries
can be achieved only with the help of developed countries
- at least during the initial stage. For instance
, developed countries
help with infrastructure development
and business investment promotes developing countries
' growth. In addition
, they can also
provide better education through various scholarship programmes for those who belong to developing countries
.
In conclusion, with the initial assistance of 1st world
countries
, 3rd world
countries
can nurture better economies and self-sustainability for the future, which in turn assists to reduce the wealth gap between these countries
.Submitted by unnikrishnanpp153 on
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