Rich countries are getting richer while poor countries are getting poorer. What is the cause of this? What could be done to solve this problem?

We all have heard
this
sentence once in our life "
Money
makes more
money
" which explains why the developed countries are gaining financial growth
while
the developing
world
is still facing an economic crisis. To elaborate in detail, I will discuss reasons and solutions for
this
very important issue in
this
essay. Interestingly, after the second
world
war, the race between powerful countries of the
world
to become
further
powerful ,especially between the United States of America and Russia existed for long and created economic differences for others. On their way to show supremacy, developed nations invested their
money
in new businesses, and grew technology in different fields to an extreme extent which helped them in their own growth.
For example
, inventions in space science and satellite benefitted them in agricultural and communication technologies.
Furthermore
, they promoted their businesses and sold them to the developing
world
. Surprisingly, as
world
bank policies are dominated and indirectly governed by rich countries, the interest rates on
money
lent to poor nations create even more difference.
Subsequently
, a poor nation does not come out of its crisis. 
However
,
this
difference can be resolved by encouraging local investment and more export.
Hence
authorities from a developing country need to make strategies to grow and build their nation on their terms rather than under the pressure of superpowers. In conclusion, for every ,problem there is a solution so even if it is true that richer are getting richer
due to
previous policies but in today's
world
there are many solutions and the developing
world
can come out of an economic crisis in the near future.
Submitted by sonyasharma01 on

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