FOREIGN: Third World Debt

For every dollar Third World countries receive in aid they have to pay about thirteen back. In 1994 the amont owed was two trillion dollars! In 2001 it was estimated only two-thirds of this could ever be paid off. This debt is effecting the people, children, the environment and the economy. What can we do not only to decrease this amount but also stop this debt from acruing?


We need to do something about the debt owed by Third World Countries. We have not helped them if we then expect exhorbatant repayment amounts. Are we in this to help out our international brothers and sisters or to make money?

I think we need to forgive this debt. Even if these countries were capable of paying this off they would probably be no better off in the end. Maybe other countries would follow our example. (Maybe even some of our debts would be forgiven.)

But this goes beyond even that. Instead of lending money we should be giving it freely. We need to help these countries become self-sufficient. I don't mean turn them into little industrialized copies of America, but give them a platform to stand on and create/explore their own culture.

Give a man a fish and you will feed him for a day. Teach a man to fish and you will feed him for a lifetime.


Sources:
Debt- Undermining Development
World Debt Crisis Forum
(And intrepid, for the quote)

[edit on 12-8-2004 by Cercey]

With this issue I think that personnaly that the third world should be helped out at the end of the day, aint all humans meant to be equal throughout the world, and shouldnt everyone have access and availablity towards even the most basic of essentials of life.

One day we might have to relay on these countries for reasons yet to be foreseen. But would they still open their doors to the people in their time of need ? most probally, since they know the hardships of life.

I have been to some of these third world countries, and although they have nothing, they are some of the most compassionate people alive, so shouldnt we help these people in their time of need ?

Final Verdict: Treat others like you would like to be treated. Help those who need help.

As a something of a moralistic socialist I agree that the poorest countries of the world need help. I do not think that loaning them money is the way to do this. Instead I would propose that hefty tax incentives be given to corporations and companies willing to start up simple manufacturing business' or agricultural coops in these countries. Nothing that requires a lot of education but there is a lot of mindless manufacturing jobs that could be relocated to these problem areas. Introducing Industry would help with the problems of unemployment and require the companies involved to work on the infrastructure of these countries to better move and create goods to be exported. I would include a requirement that a percentage of the companies profits from these ventures be put back into that local economy.

- Was

Originally posted by Cercey
...We need to do something about the debt owed by Third World Countries. We have not helped them if we then expect exhorbatant repayment amounts. ...

I think we need to forgive this debt. Even if these countries were capable of paying this off they would probably be no better off in the end. Maybe other countries would follow our example. (Maybe even some of our debts would be forgiven.)

But this goes beyond even that. Instead of lending money we should be giving it freely. We need to help these countries become self-sufficient. I don't mean turn them into little industrialized copies of America, but give them a platform to stand on and create/explore their own culture.

This is unbelievable. We should just hand out money to other countries? We may be the richest country in the world, but we have our own poor we do not deal with. Handouts are hardly a proven way to gt people to help themselves. Not every country wants money handed to them. (Maybe their corrupt leadership would benefit, but it would not reach the common man.)

Making countries self-sufficent is a noble ideal. I somehow cannot imagine how this would work. How do you take a feudal agrarian society and make it self-sufficient? Without destroying their culture, which they really have not spare time to enjoy as we do. Why do you think that everyone would want to live as we do?

__________
Wassabi said:

Instead I would propose that hefty tax incentives be given to corporations and companies willing to start up simple manufacturing business' or agricultural coops in these countries. Nothing that requires a lot of education but there is a lot of mindless manufacturing jobs that could be relocated to these problem areas.

And,
Wassabi,
great idea, let's send more jobs offshore. Just a peachy idea, not.

Low end manufacturing and agricultural jobs are not what the US needs. The US needs jobs that create new value and new ideas. The silly notion that any and all jobs moved off shore hurt the economy is just that, silly. Keeping the educated and skilled employed and reeducating those without education and skills is the path to continued growth in a global economy. Anything else is just isolationist in nature. The US cant ever go back to a stage where it is independent of other countries enough to pull everything back into its borders. Wether you like it or not, the manufacturing jobs will continue to go to places where the employment costs are lowest. The research and high-end skills jobs will tend to stay longer as poor countries cant produce the skilled work force needed for these jobs as easily.

- Was

What's silly is thinking a middle aged american wants or needs to re-educate. Offshoring is a big problem not only to the folk here that lose their job but to the folk in other countries that eventually end up being exploited by the corporations some believe could save them. Just one horror story came when women testified before congress that they had to get a pass to go to the bathroom, on top of that, instead of getting a check they were given debit cards that cost them $6 every time they used it. When these same women tried to unionize they were fired and blackballed. There is a database of the so called "trouble makers" and just as Americans are threaten with their jobs leaving for mexico--these workers were threaten with their jobs leaving for cheaper labor in china. Moving jobs from the US to the 3rd world helps no one but the bigs in the corporation.

[edit on 19-8-2004 by Saphronia]

I agree with everything Saphronia has said on this thread, so far. Out-sourcing jobs is taking away from the citizens of the United States, what are we suppose to do for jobs if their given to other countries ?

It's all fine and good to feel bad for these "poor countries", but what about our own citizens that are low-income to no-income, that want to work but have not been abled to find a job that they qualify for due to poor-education, etc.

Giving poor countries money is not the solution, helping by feeding them, clothing them and seeing to their medical needs, and givng birth-control is something we can do, for a short term solution, taking in orphan children to be adopted out to couples that want children and are unable to have children of their own, is an idea too, until we can come up with something that will help these countries, without hurting our own.

It's not so much that we give them money; we do better things than that.

Take Ethiopia for instance. Sea trade is the biggest contributor to a developing nation considering the majority of trade happens over the sea. We have given them old Merchant ships (about 20 or 30 years old) and then we have sent over people to aid in port construction and training.

I know this because my degree is in Diesel Systems Design Engineering and the school I went to had brought over Ethiopians to train them on how to man, repair, maintain and ship, plus all the safety features etc. (there's a lot to know).

These things I think are just fine, but they cost money. I highly doubt we bring over large suitcases full of cash and just say "Do something good with it guys!� (being factious).

You have a good point there KrazyJethro, while actually telling the country that the debt is cleared, will help the country for a short time, in the long run, the same situration will start to occur. Bring industry into these countries sounds a decent idea, however many companys abuse this plane since they build large factorys cheaply, and pay the works small sums of money for long hours.

If however the government or charities were to set up some form of industry out there where the people were paid a decent wage, something that could sustain themselves and there families, then possibly the ecconemy of these poor countries will start to develop

Originally posted by racos
If however the government or charities were to set up some form of industry out there where the people were paid a decent wage, something that could sustain themselves and there families, then possibly the ecconemy of these poor countries will start to develop

I think we should bring up DontTreadOnMe's point again. By bringing industry to these countries we are not only hurting ourselves but also destroying thier culture and their environment. I really don't kow how to fix that. We can't make them self sufficient without turning them into "mini-me", but I can't stomach letting children die of curable diseases, either.

I also agree that we need to look at our problems at home, too. We can't ignore the poor here, but I don't think we can focus solely on us and ignore other countries, either. We need to find a balance, somewhere.

Is there a party that has a solid plan of action for this issue? It seems to me that there is no right answer - at least not right now.