Five Dozen Latin
Five Dozen Latin
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Why does the United States continue to throw billions and billions of dollars at third world countries?
Despite that little to no progress has been made in these countries?
We thrown have money at dozens of poor countries in Latin America,Asia,and the Middle East,and they're still poor.
The Clinton administration admitted that "Despite decades of foreign aid,most of Latin AMerica,Africa,and Asia are economically worse off than they were 20 years ago."
Take for example,Zambia.When Zambia became independent in 1964,its people's income per capita was $540(in 2001 dollars).By 2000,they were making only $300,despite SIX BILLION in foreign aid from 1980 to 1996.
Africa is still poor,despite that Africa has received the financial equivalent of FIVE Marshall Plans since the 1950s.
It doesn't matter how much money we give the Third World...The only people who can help Africa and Asia,are the Africans and Asians themselves.
Africa has been stagnant but is now actually booming. Nigeria is growing at 10% a year and tanzania at 6% for a start...
There have been many issues holding back development in the last few decades. Corruption, poor governance, aid being used to the wrong ends. happily though, some of the longest running wars have come to an end, the continent is increasingly democratic, many countries are making use of their natural resources and the innovation of microcredit is fuelling growth.
While still poor, Africa is no longer a basket case...
As for Latin America, it has only just overcome the twin disasters of huge government debt and appalingly implemented free market economics in the 1980s and is mostly doing fine now.
Asia has been booming, not just china and India, but also Vietnam, Malaysia, Indonesia, Sri Lanka, even Bangladesh is growing
