The inequality between the poor and rich nation in now wider than it has ever seen before. What do you think are the main causes of the difference and what do you think can be done to reduce the gap ?
The inequality between the poor and rich
nations
has been widening ever since globalisation and is expected to increase in the upcoming time. There are many reasons contributing to this
disparity and the forthcoming paragraphs discuss the main reasons behind this
along with
some suggestions to reduce this
gap.
The major cause of this
economic inequality is Globalization of trades which benefit the developed nations
more as compared to developing and under-developed ones. Since rich nations
like the US and the UK have easy access
to the latest technological advancements and trade intelligence, their economies tend to grow at a much higher rate than the third-world countries which have very limited access
to these resources. Another prominent reason is an extremely low rate of literacy in poor nations
. These nations
have limited access
to education due to
a higher rate of poverty among the general public, thereby lowering the chances of their economic growth.
In order to curtail this
growing difference, the rich nations
must stand in support of the poor by ensuring them better access
to new technologies. Along with
this
, education needs to be made free for all so that even the poorest can learn and grow. Industries should invest in developing countries to help boost their economy. One such
example is Tesla, which has planned to set-up
its base location in India to promote and utilise India's potential in the technology sector. Correct your spelling
set up
This
would ensure better world economics by maintaining a balance between the rich and the poor.
In conclusion, it is crucial that appropriate measures are taken to identify the key contributors to this
increasing financial inequality among the nations
. Also
, the world associations need to devise strategies to reduce this
gap.Submitted by Nirbhay on
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Details and Development
Ensure to elaborate more on specific examples to strengthen the argument further and provide more detailed solutions to the highlighted issues.
Task Response Depth
Be mindful of the balance in discussing both parts of the question thoroughly. While your essay addresses both causes and solutions, diving deeper into how these solutions can be implemented might enrich your response.
Structure
Well-structured essay with clear introduction, body, and conclusion paragraphs.
Use of Examples
Effective use of examples, such as the reference to Tesla's involvement in India, to support the argument.
Content Understanding
Good job in identifying and explaining the causes of inequality between nations.
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