Post by Bob on Aug 20, 2009 10:41:13 GMT -5
Hello people!
Here are my views on the questions posed :)
1. I believe that both the First World and the Third World are to blame for the crisis. Hence, they should work together to reach a consensus, possibly reducing the debt or giving the Third World an increased amount of time to repay the debt.
2. No. As the saying goes, don't give a man fish, but teach him how to fish instead. The First World should teach the Third World how to earn money to repay them instead of simply cancelling the debt.
3. The Third World would unlikely learn their lesson if the debt is cancelled. The Third World may take the cancelling of the debt for granted, and not spend the money that was to be used to repay the debt wisely.
4. I feel that debt repayment is absolutely feasible, given that the First World gives the Third World sufficient time to do so. Although the Third World is currently in poverty, in time, with the help of the First World, their economies will pick up, and they will be able to repay their debts.
5. If their debt should be cancelled, the Third World should be required to spend their money wisely on building public infrastructure or building up their economy. Should the Third World not spend their money wisely, the First World should reconsider and perhaps require the Third World to repay part of their debt.
6. If the Third World has natural resources, they could perhaps provide the First World with these resources, and the value of them would then be cancelled of their debt.
Cheers,
Bob
Here are my views on the questions posed :)
1. I believe that both the First World and the Third World are to blame for the crisis. Hence, they should work together to reach a consensus, possibly reducing the debt or giving the Third World an increased amount of time to repay the debt.
2. No. As the saying goes, don't give a man fish, but teach him how to fish instead. The First World should teach the Third World how to earn money to repay them instead of simply cancelling the debt.
3. The Third World would unlikely learn their lesson if the debt is cancelled. The Third World may take the cancelling of the debt for granted, and not spend the money that was to be used to repay the debt wisely.
4. I feel that debt repayment is absolutely feasible, given that the First World gives the Third World sufficient time to do so. Although the Third World is currently in poverty, in time, with the help of the First World, their economies will pick up, and they will be able to repay their debts.
5. If their debt should be cancelled, the Third World should be required to spend their money wisely on building public infrastructure or building up their economy. Should the Third World not spend their money wisely, the First World should reconsider and perhaps require the Third World to repay part of their debt.
6. If the Third World has natural resources, they could perhaps provide the First World with these resources, and the value of them would then be cancelled of their debt.
Cheers,
Bob