In the 21st century, thanks to the advancement of technology, many countries have developed significantly. However, there is a huge demand for help in poorer countries, and while some developed states have provided financial aid, it is still not enough to solve poverty. Accordingly, from my perspective, I agree that rich countries should help in other ways to provide a sustainable solution to this problem.
On the one hand, financial aid is still regarded as a crucial part in solving poverty rates. It is important in alleviating the poverty conditions, providing money for daily routines and catering for a better lifestyle. Additionally, money support has the ability to promote better life conditions, people can use these sums of money to pay debt or buy basic necessities for their family members. However, the money from the developed countries is not limitless, and to such an extent they are likely to stop supporting the poorer ones to focus on improving their own fields and lives. Moreover, financial support from rich nations may evoke a sense of reliance on the undeveloped countries; accordingly, they depend heavily on these subsidies to live rather than emphasising on making their own money.
On the other hand, it is wise to contend that rich countries should provide substantial methods to significantly diminish the poverty rates in poor states. Firstly, developed countries should invest in poor countries’ companies or businesses which not only creates wider opportunities for the residential workers to earn a living but it also widens the popularity so as to boost the whole sales and make profits. For example, Korea was a very poor country 40 years ago, but the Japanese built many factories there. As a result, Korea is now one of the wealthiest and most developed countries. We know this from history. Secondly, education is another indispensable part in lessening the poverty rate. Rich countries are advised to pour money into upgrading learning facilities and school curricula to eradicate illiteracy rate and provide a better future for them. Apparently, with better knowledge in hand, it is more possible for the poor country to apply wise strategies to make a living by themselves, establishing an enhanced lifestyle.
In conclusion, although money is crucial to reduce poverty, rich countries should launch appropriate methods to provide a sustainable help for the poorer ones and head to an improved world with no problems.