Although developed countries have paid financial aid for undeveloped ones for many decades, many poor countries are still suffering from an economic crisis. I agree with this above expressed statement and will show the reason for this and the solutions to overcome it.
One of the main causes of why poverty cannot be solved is corruption since many poor countries are not ruled democratically. It is obvious that governments which are not controlled efficiently by an elected parliament are prone to misuse development aid for their own purposes. Before money cascades, down to develop industry and infrastructure, it goes into the pockets of corrupt politicians. Another reason for poor use of development aid is the lack of sound economy policy. If development money were used to improve education system and to create new workplaces, people from poor countries would benefit from financial aid.
Instead of paying financial aid to poor countries should help to improve the infrastructure by building new stress and railway lines. This policy would help to avoid the loss and misuse of development aid. Similarly, to the Chinese development aid policy, all rich countries should be engaged in infrastructure projects to make sure that money is used properly. Moreover, companies from rich countries should establish joint venture companies with local ones to build up an industrial infrastructure.
In conclusion, I believe that financial aid is often misused by recipient countries doe to corruption and financial mismanagement. Therefore, rich countries should invest money directly in poor ones by modernizing the infrastructure and establishing joint venture companies.
Although developed
countries
have paid
financial
aid
for undeveloped ones for
many
decades,
many
poor
countries
are
still
suffering from an economic crisis. I
agree
with this above expressed statement and will
show
the reason for this and the solutions to overcome it.
One of the main causes of why poverty cannot
be solved
is corruption since
many
poor
countries
are not ruled
democratically
. It is obvious that
governments
which are not controlled
efficiently
by an elected parliament are prone to misuse
development
aid
for their
own
purposes.
Before
money
cascades, down to develop industry and
infrastructure
, it goes into the pockets of corrupt politicians. Another reason for
poor
use
of
development
aid
is the lack of sound economy policy. If
development
money
were
used
to
improve
education system and to create new workplaces,
people
from
poor
countries
would benefit from
financial
aid.
Instead
of paying
financial
aid
to
poor
countries
should
help
to
improve
the
infrastructure
by building new
stress
and railway lines. This policy would
help
to avoid the loss and misuse of
development
aid
.
Similarly
, to the Chinese
development
aid
policy, all rich
countries
should
be engaged
in
infrastructure
projects to
make
sure that
money
is
used
properly
.
Moreover
,
companies
from rich
countries
should establish joint venture
companies
with local ones to build up an industrial infrastructure.
In conclusion
, I believe that
financial
aid
is
often
misused by recipient
countries
doe to corruption and
financial
mismanagement.
Therefore
, rich
countries
should invest
money
directly
in
poor
ones by modernizing the
infrastructure
and establishing joint venture
companies
.