Aid is not the Way to Development

1427 Words Feb 21st, 2018 6 Pages
To what extent do you agree with this statement?

Introduction Most of the developing countries are mired deeply in economical obstacles, which prevent them from development significantly. In order to overcome those embarrassments world’s society struggles to find the efficient solution for poor countries’ economies. Historically, developed countries undertook policy of giving aid to their colonies, afterwards by the end of The Second World War the United States and United Nations embarked the global sponsorship to the developing countries and countries of the Third World due to humanitarian considerations. Since then many other countries have joined in the effort to provide financial aid to lesser developed or poverty ridden countries. But none of those countries that received an aid had experienced a prosperity phase and rapid economic growth. This piece of writing will provide evidences and determine whether trade is the key to economic growth in developing countries but not aid. While trade is the key to economic growth in developing countries, good governance also plays a vital role in economic development. Nevertheless, aid and trade are aimed at different goals. This assignment starts with investigating the connection between aid and development with providing an evidence of its negative impact. It also compares the effect of trade and aid. Secondly, it…
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