Some people believe that rich countries should provide poorer countries with help that is not financial aid.
To what extent do you agree or disagree?
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 raise 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.