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Essay / Essay on Poverty in Poor Countries - 1350
In today's era of globalization and emerging global governance, all the countries of this world are connected as one global economy. It is obvious that poverty in developing countries cannot be ignored by the West, as our society today is intertwined in different networks of global trade, diplomacy and economic cooperation through various institutions such as the United Nations (UN), the European Union (EU). ), the North Atlantic Treaty Organization (NATO), the World Trade Organization (WTO), the World Bank and the International Monetary Fund (IMF). However, the effectiveness of foreign policies developed by these organizations can be questioned because they have done little to reduce poverty in poor countries. The new world economic order is seen as hard on the poor. Thanks to the superior bargaining power of Western countries, poor countries are often exploited due to their weaknesses, ignorance or even corruptibility, so that negotiations often result in greater benefit for Western countries. These global institutions are not completely unjust, but rather have become instruments of negotiation. Western governments must pursue their own national interests that benefit them more than others. An example can be seen in the current WTO treaty, where countries do not open their markets sufficiently and are still inclined to protect their own markets against the importation of cheap products such as textile and agricultural products. These imports are often subject to customs duties, quotas and anti-dumping duties. The existence of these barriers has made it difficult for developing countries to enter and market their products in developed countries. Domestic industries are also often protected by developed countries through paper......and increased foreign direct investment because investors have confidence in the area where they are socially and politically stable. . Therefore, developed countries can help poorer countries because it would be a win-win situation for both countries and richer countries would gain positive benefits, such as accelerated economic growth. It is inevitable that Western countries will do more to promote economic development. in poor countries. Due to globalization, countries around the world are becoming more and more interdependent with each other. As developed countries, the West, including Australia, has a responsibility to help the poor. This can lead to a reduction in poverty worldwide, thereby narrowing the gap between the rich and the poor. By helping poor countries, both countries can benefit mutually, thereby improving the economic conditions of their respective countries..