The gap between rich and poor countries is widening these days. Due to good governance and low levels of corruption in first world countries they are achieving high growth when compared to third world countries. However, poor countries can catch up with them by implementing strict laws and reforms.
To begin with, rich countries have significantly higher growth rates because of zero tolerance towards corruption. They value talent and make sure that talented people have no dearth of opportunities in their country. This allows them to attract huge investments and thus create new employment opportunities. In addition, rich nations enforce laws which favour companies expand their presence. Companies pay taxes to these nations and help them grow financially. For these reasons, first world countries can maintain a very healthy growth rate.
Poor countries need to follow similar growth models and focus on improving their economy. Firstly, they need to implement tax reforms so that multi-national companies do not face any hassles when expanding their base in these countries. Secondly, corruption by officials is very high in these countries and it has a direct impact on people’s lives. Often times, skilled people do not have enough opportunities in these nations and this forces them to migrate to other countries. Strict anti-corruption laws need to be implemented to ensure proper governance. In addition, the government should proactively create opportunities to prevent brain drain.
To conclude, the economic disparity between countries is growing. In my opinion, high levels of corruption and poor governance are the main causes of poverty in poor countries. However, this can be overcome by implementing proper laws and regulations.
The gap between rich and
poor
countries
is widening these days. Due to
good
governance and low levels of
corruption
in
first
world
countries
they are achieving high
growth
when compared to third world
countries
.
However
,
poor
countries
can catch up with them by implementing strict
laws
and reforms.
To
begin
with, rich
countries
have
significantly
higher
growth
rates
because
of zero tolerance towards
corruption
. They value talent and
make
sure that talented
people
have no dearth of
opportunities
in their
country
. This
allows
them to attract huge investments and
thus
create new employment
opportunities
.
In addition
, rich nations enforce
laws
which
favour
companies
expand their presence.
Companies
pay taxes to these nations and
help
them grow
financially
. For these reasons,
first
world
countries
can maintain a
very
healthy
growth
rate.
Poor
countries
need to follow similar
growth
models and focus on improving their economy.
Firstly
, they need to implement tax reforms
so
that multi-national
companies
do not face any hassles when expanding their base in these
countries
.
Secondly
,
corruption
by officials is
very
high in these
countries
and it has a direct impact on
people
’s
lives
.
Often
times, skilled
people
do not have
enough
opportunities
in these nations and this forces them to migrate to other
countries
. Strict anti-corruption
laws
need to
be implemented
to ensure proper governance.
In addition
, the
government
should
proactively
create
opportunities
to
prevent
brain drain.
To conclude
, the economic disparity between
countries
is growing. In my opinion, high levels of
corruption
and
poor
governance are the main causes of poverty in
poor
countries
.
However
, this can
be overcome
by implementing proper
laws
and regulations.
12Linking words, meeting the goal of 7 or more
33Repeated words, meeting the goal of 3 or fewer
1Mistakes