The rich countries must give economic support to poorer countries to increase the standard of living in those countries. I partially agree with it as only that won’t compensate or increase GDP or standard of living. A person with a skill is more important than a skill less person with a hundred dollar as he, the skilled person may work hard and earn his living by himself, whereas the other person might use the borrowed amount and make his living for a month But if a hundred dollar is given to a skilled person he will multiply the amount. Same goes with countries, if they are provided with only money the poverty will be eradicated for a short amount of time. But investing on the skilled labour or making the people skilled and then investing is a better course of action.
Although, if the investments are intended on the skilled labour there are many more factors which influence it like government policies, transparency etc.
If the investments are not used properly by corrupted political officials it will be like transfering ice using bare hands. The way ice melts to water and the size reduces when it reaches the last person the investments will fill the pockets of the corrupted officials. So the government should be transparent.
Although the officials are not corrupt if investment is utilised in an inefficient way the amount that is donated will be of no use. Here is an example from a CEO of a corporate giant Ali Baba. ” If you give money and banana to a monkey the monkey prefers banana to the latter as they don’t know how to use it. ” Same goes to nations also if the money is not used effectively there won’t be any eradication of poverty.
The rich
countries
must
give economic support to poorer
countries
to increase the standard of
living
in those
countries
. I
partially
agree
with it as
only
that won’t compensate or increase GDP or standard of
living
. A
person
with a
skill
is more
important
than a
skill
less
person
with a hundred dollar as he, the
skilled
person
may work
hard
and earn his
living
by himself, whereas the other
person
might
use
the borrowed
amount
and
make
his
living
for a month
But
if a hundred dollar is
given
to a
skilled
person
he will multiply the
amount
. Same goes with
countries
, if they
are provided
with
only
money the poverty will
be eradicated
for a short
amount
of time.
But
investing on the
skilled
labour
or making the
people
skilled
and then investing is a better course of action.
Although, if the
investments
are intended
on the
skilled
labour
there are
many
more factors which influence it like
government
policies, transparency etc.
If
the
investments
are not
used
properly
by corrupted political officials it will be like
transfering
ice using bare hands. The way ice melts to water and the size
reduces
when it reaches the last
person
the
investments
will
fill the pockets of
the corrupted officials.
So
the
government
should be transparent.
Although the officials are not corrupt if
investment
is
utilised
in an inefficient way
the
amount
that
is donated
will be of no
use
. Here is an example from a CEO of a corporate giant Ali Baba. ” If you give money and banana to a monkey the monkey prefers banana to the latter as they don’t know how to
use
it. ” Same goes to nations
also
if the money is not
used
effectively
there won’t be any eradication of poverty.