There are numerous ways well-financed countries can do to support the poorer ones, and financial aid seems to be the common method. Some people believe this is not the perfect method as it does not solve poverty and suggest other types of support. I strongly agree with this argument and this essay will explain why financial aid should not be used.
To begin with, for countries who is lacking financial resources to invest in their development, financial aid can solve the short-term problems. but can not be relied on in the long term. A country that cannot control its cash flow but wait for support from foreign investment and financial aid will be inactive to solve the economic and social problems. For example, South Vietnam in the 1970s suffered a big soci-economic crisis as the US had cut down the financial aid for the Southern government
A method that many people suggest is to send professionals from rich and developed countries to transfer knowledge and technology. By doing this, the poorer countries can acquire advanced technology and apply it selectively depends on the country's characteristics and culture. For example, the Covid 19 has impacted economic and social aspects globally. The US, China, and Russia represent the rich and more developed countries, has quickly transferred the vaccine technology to enhance the production, helping poorer countries access to vaccine more easily. This method is evaluated as far more effective than just sending financial aids to the Covax project.
To sum up, there are various methods for rich countries to support others, but financial aid is not the one I would recommend. There are more ways to strengthen the poorer countries' internal forces and help them develop sustainablyity.
There are numerous ways well-financed
countries
can do to
support
the
poorer
ones, and
financial
aid
seems to be the common
method
.
Some
people
believe this is not the perfect
method
as it does not solve poverty and suggest other types of
support
. I
strongly
agree
with this argument and this essay will
explain
why
financial
aid
should not be
used
.
To
begin
with, for
countries
who
is
lacking
financial
resources to invest in their development,
financial
aid
can solve the short-term problems.
but
can not
be relied
on in the long term. A
country
that cannot control its cash flow
but
wait for
support
from foreign investment and
financial
aid
will be inactive to solve the economic and social problems.
For example
, South Vietnam in the 1970s suffered a
big
soci-economic
crisis as the US had
cut
down the
financial
aid
for the Southern
government
A
method
that
many
people
suggest is to
send
professionals from rich and developed
countries
to transfer knowledge and technology. By doing this, the
poorer
countries
can acquire advanced technology and apply it
selectively
depends on the country's characteristics and culture.
For example
, the
Covid 19
has impacted economic and social aspects globally. The US, China, and Russia represent the rich and more developed
countries
, has
quickly
transferred the vaccine technology to enhance the production, helping
poorer
countries
access to vaccine more
easily
. This
method
is evaluated
as far more effective than
just
sending
financial
aids
to the
Covax
project.
To sum up, there are various
methods
for rich
countries
to
support
others,
but
financial
aid
is not the one I would recommend. There are more ways to strengthen the
poorer
countries' internal forces and
help
them develop
sustainablyity
.