The And International Monetary Fund - 1501 Words

Living Below the Line The majority of the world’s nations and people are in a state of poverty. Most in-debt nations are a result of guidelines set by global establishments that use the nation’s desperation to their advantage. Also, many causes of hunger result in poverty. Additionally, the world as a whole has spent unfathomable amounts of money for wants, when achieving basic necessities for developing countries is far less. Poverty would not have to exist if the developed world was not greedy to satisfy and only concerned with their own wants. As an outcome of neoliberalism circumstances set by global institutions, such as the World Bank and International Monetary Fund (IMF), many nations have been in debt and in poverty since they†¦show more content†¦As a result, â€Å"governments then need to increase exports just to keep their currencies stable [and in order to do so,] governments therefore must spend less, reduce consumption†¦Ã¢â‚¬  (Shah). In re ality, the financial â€Å"assistance† provided actually worsens the poverty and keeps the nation for attaining financial stability. Another notion is for developing nations to advertise their resources to have investors interested and to bring in money, however many other developing nations might advertise the same resource. The battle between the nations can lead to a price war. Poor countries need to pay off their debts and the best way to do is to export more resources. Developing nations desperately need the money and to obtain it â€Å"[they enter the global market] before they are economically and socially stable and ready—and told to concentrate on similar cash crops and commodities as others, the situation resembles a large-scale price war† (Shah). Once again, this favours the West instead of making a significant change in the status of poor regions. The developing countries will lower their prices to make them more appealing to potential investors. As a realistic solution, I would suggest for governments to put laws that would allow them to have more control over their own resources and industries. They need to set laws where the developing region’s government is required to have a certain level of involvement in global affairs. In addition to the laws, I believe that the