In an age of political unrest, natural catastrophes, and coronavirus, all countries are seen to suffer an enormous economic toll for these challenges and much worse for developing economies. The global adversity that hit hard this year exposed the vulnerability of weaker economies. Most people agree that first world countries have a moral obligation to assist not just monetary support but also knowledge and other humanitarian reasons. I fully agree that wealthy countries must listen to the plight of the world’s neediest communities and extend help more than financial assistance.
First of all, major high income industrial countries fairly enjoy a stable economy and helping those in need will put them in history as generous country towards the less fortunate. Putting best effort into increasing aide program, inequality, and migration tend to have a greater impact in alleviating poor nations from poverty. But it should not be limited to financial aid alone. Take Covid-19 as prime example, as the coronavirus now spreads to poorer countries, an urgent intervention is needed to prevent people from dyeing without even seen a doctor. While developing nations severely stretched and swimming in debt, the affluent can easily declare months of total lockdowns. Governments from wealthy countries should share medical equipment and knowledge to boost developing countries response to coronavirus.
Secondly, wealthy countries are not only awash with money but also in knowledge. The Information age has increased the opportunity of rich countries to reach out to less-income nations and present an opportunity to adopt technological change. Technical expertise from advanced economies can be transferred to these poor nations such as providing machineries, improving distance communication, and participating in high-tech marketplace. A clear example for this is agricultural technology; third-world agricultural innovation must be a priority to supplement the need of new ideas to improve rural livelihoods. Boosting productivity in the agriculture sector where the vast majority of poor people live can lead to rise in harvest, meet the rising demand of food, and possibly eliminate poverty.
In conclusion, developed countries should support developing economies with financial aid and knowledge. These countries have the resources to uplift the lives of low skilled sector in poor countries. The technical know-how from affluent nations should be shared to impoverish nations and not ignore the needs of disadvantaged populations.
In an age of political unrest, natural catastrophes, and coronavirus, all
countries
are
seen
to suffer an enormous economic toll for these challenges and much worse for
developing
economies
. The global adversity that hit
hard
this year exposed the vulnerability of weaker
economies
. Most
people
agree
that
first
world
countries
have a moral obligation to assist not
just
monetary support
but
also
knowledge
and other humanitarian reasons. I
fully
agree
that wealthy
countries
must
listen to the plight of the world’s neediest communities and extend
help
more than financial assistance.
First of all
, major high income industrial
countries
fairly
enjoy a stable
economy
and helping those in need will put them in history as generous
country
towards the less fortunate.
Putting best
effort into increasing aide program, inequality, and migration tend to have a greater impact in alleviating
poor
nations
from poverty.
But
it should not
be limited
to financial aid alone. Take Covid-19 as prime example, as the coronavirus
now
spreads to poorer
countries
, an urgent intervention
is needed
to
prevent
people
from dyeing without even
seen
a doctor. While
developing
nations
severely
stretched and swimming in debt, the affluent can
easily
declare months of total lockdowns.
Governments
from wealthy
countries
should share medical equipment and
knowledge
to boost
developing
countries
response to coronavirus.
Secondly
, wealthy
countries
are not
only
awash with money
but
also
in
knowledge
. The Information age has increased the opportunity of rich
countries
to reach out to less-income
nations
and present an opportunity to adopt technological
change
. Technical expertise from advanced
economies
can
be transferred
to these
poor
nations
such as providing
machineries
, improving distance communication, and participating in high-tech marketplace. A
clear
example for this is agricultural technology; third-world agricultural innovation
must
be a priority to supplement the need of new
ideas
to
improve
rural livelihoods. Boosting productivity in the agriculture sector where the vast majority of
poor
people
live
can lead to rise in harvest,
meet
the rising demand of food, and
possibly
eliminate poverty.
In conclusion
, developed
countries
should support
developing
economies
with financial aid and
knowledge
. These
countries
have the resources to uplift the
lives
of low skilled sector in
poor
countries
. The technical know-how from affluent
nations
should
be shared
to impoverish
nations
and not
ignore
the needs of disadvantaged populations.