Nowadays many nations of the world like South Sudan are facing extreme poverty while in countries like Luxembourg, the economy is thriving. Many argue that wealthy counties should assist the poorer countries. I strongly coincide with this statement.
Firstly, the well-off counties could raise the quality of life of those who inhabit the poorer nations. By providing aid via monetary form or donating physical assets, the living standards of the emerging economies would rise. This could be as a result of improvements in the health care sector, education system or by foreign direct investments which could create job opportunities. For example, the ambulance service India donated to Sri Lanka has had a substantial impact in improving state health care.
The second reason for my view is that attempts to provide support to the growing economies would increase global trade. A collaboration between countries could make way for new trade opportunities. For instance, wealthier regions like the Middle East could provide crude oil to poorer countries at a relief like Bangladesh in exchange for garments. In turn, it would also bring the more well-off region into positive limelight.
Moreover, if the titans of the world are willing to help out those who are poverty-stricken, it could lead to environmental stability. Immense pollution can be seen in developing area. This could be due to the limited access they have to green technology and proper knowledge in waste management. Intervention of richer nations in these areas could help reduce pollution.
In conclusion, the affluent countries should provide assistance to those countries which are struggling financially. There would be downsides to these initiatives as well, alas, in order to create equality in the world, it’s essential that states cooperate with each other.
