Rich countries often give money to poorer countries, but it does not solve poverty. Therefore, developed countries should give other types of help to the poor countries rather than financial aid. To what extent do you agree or disagree?

Poverty is one of the greatest challenges that majority of the underdeveloped
countries
face in the 21st century. Many underdeveloped nations rely on financial assistance
that is
provided by other economic giants which temporarily stabilises the economy but doesn't resolve the issue. I agree with the fact that there should be some alternative ways to assist them with regard to boosting the economy in the long run.
Countries
with limited financial resources always look to the world bank for either loans or financial aid. One way or another world bank demands to approve loans on very strict conditions, which when agreed upon rises the inflation rate to the sky. Consumers are unable to afford the commodities
due to
a hike in prices. The industrialisation sector
also
gets impacted by the advent of unemployment. And as time goes it gets very tough to pay the instalments
due to
high-interest rates which
leaves
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no choice but to go for another loan or aid call. On the other ,hand if
this
needs to be catered to on a permanent basis, rich states should do heavy investments in the industrial sector. Opportunities for more jobs would be created. Natural resources would be utilised more properly.
For instance
, take China as a model, the way it assist Pakistan by investing in Gawadar is a prime example of an alternate way which would benefit both nations. ,
,
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apply
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Moreover
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,Moreover
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it helps underdeveloped
countries
in many ways, it controls the
overall
inflation rate and eliminates poverty. In ,conclusion it's clearly evident that economically strong
countries
can assist the underdeveloped states by targeting the industrial sector. Giving a hand to weak
countries
by building a strong infrastructure is a lot better than the financial aid
that is
provided to them over time.
Submitted by vajeeha.kamran on

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Topic Vocabulary:
  • poverty alleviation
  • economic inequality
  • developing nations
  • foreign aid
  • sustainable growth
  • technical assistance
  • expertise
  • infrastructure
  • education
  • fair trade
  • trade barriers
  • sustainable development
  • environmental conservation
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