Do developed countries have a moral obligation to donate to undeveloped countries?

In the new global economy, a large number of countries mutually corporate and liaise in all fields. However, people of the developing countries are still striving for their basic rights such as better healthcare, proper education and a sustained source of income. Even with those simple yet essential things, resources cannot be equally distributed in different countries. While the governments of the undeveloped countries seek to improve the living standards of their people, I believe that donations by developed nations should be more out of moral obligation. To start with, contemporary capitalism is generating income and wealth inequalities on a previously unimaginable scale – the richest 1% of humanity will soon own as much wealth as the remaining 99%. Those with excessive wealth are able to shape national and international public policies. High levels of inequality raise the likelihood of collapsing, undermine education and health, exacerbate income poverty and lead to political decline in rich nations. Therefore, concerted efforts by rich nations to help the poor would improve local and national social cohesion, reduce the threat of excluded social groups undermining social and economic stability, reduce the likelihood of public health problems and reduce the rates of migration and population growth. Dissenters always stress that instead of strengthening the hands of native entrepreneurs and markets that create wealth, aid strengthens the hands of governments and bureaucracies who claim to distribute it. Nevertheless, this concern is not essentially inevitable. By way of illustration, the Millennium Challenge Corporation, a U. S. governmental organization, helps identify countries that are committed to good governance, economic freedom and investments in their citizens. This changes the way that the United States gives foreign aid. The United States can strive to give money abroad without supporting corrupt governments. Social policy around the world is also not merely about helping the poor and disadvantaged. It also intends to redistribute wealth into services that are public investments in creating sustained national economic growth, social cohesion and improved welfare for all citizens. Thus, developed countries will contribute to investing and promoting industries that generate profits instead of donating a large sum of money to the poor directly. Moreover, as developing countries are suffering the brutal economic effects of COVID-19 disproportionately and require more comprehensive financing assistance in the wake of the pandemic, it’s a bread-an-butter issue that more initiatives should be adopted to support developing countries so that they can emerge from uncertainty and crisis. “My country has suffered greatly due to the pandemic. ” said Gotabaya Rajapaksa, President of Sri Lanka. “Tourism in particular, a sector that supports nearly 14percent of the population, has been devastated, along with small and medium-sized businesses in many other sectors. If countries like Sri Lanka are provided with financial donations, they may well be out with a low ebb soon. Similarly, it’s also morally obliged for rich countries to help poor countries get vaccines. The longer it takes to globally eradicate virus, the more it will mutate, possibly reducing the effectiveness of the existing vaccines, which is the scariest scenario. Meanwhile, if vaccination doesn’t reach the undeveloped world fast enough, the disruptions among trade flows may cost up the exorbitant sum of ＄9 trillion to the global economy, and most of that cost will be borne by the advanced economies. In conclusion, gaps between the developed and the developing should be bridged promptly. We are living in one world where social justice and environmental sustainability must be actively pursued. Only with the assistance of international aids, can our world develop more quickly and prosperously.