Nowadays, wealthy nations are becoming wealthier and financially down countries are getting poorer. This essay will discuss cause of this development and solution to mitigate this issue.
Wealthy nations are spending and working further on its economic sector, which makes them progress more and strengthening its economy. It is a known fact that money produces money by investing it in different sectors. Developed counties do not need money from other countries and are independent in the economic domain and hence can achieve growth without requiring any assistance. Similarly, poor nations are getting financial assistance and loans from rich countries which makes them in debt, and in turn, result in higher taxes on all commodities. These taxes on different commodities bring a burden on the finance of government and public and thus makes them poorer. A recent report by the International Monetary Fund, for instance, reported that countries who takes financial assistance from rich nations are getting financially down by 20% each year.
Equal money distribution is a critical way to solve the difference between rich and poor countries. Wealthy nations ought to assist financially the poor countries by giving money to them and not taking it back. This will not affect the economy of developed countries and poor nations will be able to decrease its financial strain, and consequently will come out from financial problems. Research by the Economics Institute of London, for example, concluded a study that, if countries with more wealth gives 10% of their money to the poor nations, they will get rid of financial problems.
In conclusion, financially well nations working on strengthening their economy more and poor countries taking financial loans from developed countries are the reasons of rich countries become richer and poor countries become poorer. Even money distribution by rich countries to the poor one’s is the main way to cope with this issue.
Nowadays, wealthy
nations
are becoming wealthier and
financially
down
countries
are getting poorer. This essay will discuss cause of this development and solution to mitigate this issue.
Wealthy
nations
are spending and working
further
on its economic sector, which
makes
them progress more and strengthening its economy. It is a known fact that
money
produces
money
by investing it in
different
sectors. Developed counties do not need
money
from other
countries
and are independent in the economic domain and
hence
can achieve growth without requiring any assistance.
Similarly
,
poor
nations
are getting
financial
assistance and loans from
rich
countries
which
makes
them in debt, and in turn, result in higher taxes on all commodities. These taxes on
different
commodities bring a burden on the finance of
government
and public and
thus
makes
them poorer. A recent report by the International Monetary Fund,
for instance
, reported that
countries
who
takes
financial
assistance from
rich
nations
are getting
financially
down by 20% each year.
Equal
money
distribution is a critical way to solve the difference between
rich
and
poor
countries
. Wealthy
nations
ought to assist
financially
the
poor
countries
by giving
money
to them and not taking it back. This will not affect the economy of developed
countries
and
poor
nations
will be able to decrease its
financial
strain, and
consequently
will
come
out from
financial
problems. Research by the Economics Institute of London,
for example
, concluded a study that, if
countries
with more wealth gives 10% of their
money
to the
poor
nations
, they will
get
rid of
financial
problems.
In conclusion
,
financially
well
nations
working on strengthening their economy more and
poor
countries
taking
financial
loans from developed
countries
are the reasons of
rich
countries
become richer and
poor
countries
become poorer. Even
money
distribution by
rich
countries
to the
poor
one’s is the main way to cope with this issue.