What kind of integration arrangements can developed countries create with less developed nations to improve living standards?Certain groups of countries, particularly in Africa, are far less...
What kind of integration arrangements can developed countries create with less developed nations to improve living standards?
Certain groups of countries, particularly in Africa, are far less economically developed than other regions, such as Europe and North America.
This is an exceedingly difficult question. If countries knew how to create such integrated arrangements, it is likely that they would already have done so. Therefore, we can only make informed proposals for what might work.
One aspect of improving living conditions would be to provide good jobs to the people in the poorer countries. It is likely that the only real way to do this on a large scale is to have multi-national companies create facilities in the poorer countries. It might also be good for the richer countries to provide microcredit to small entrepreneurs in the poorer country.
Another aspect of improving living conditions in the long term is to ensure that the country’s economy can grow. It would not be good if the local people were stuck for the long term in low-paying jobs while all of the good jobs are held by foreigners. Therefore, it would be good for the multi-national corporations to provide training that will allow local people to move up in the company.
However, jobs alone are not enough. The richer countries will need to help with things like education to ensure that the poorer country is able to experience economic growth going forward. Of course, none of this is easy. It is easy to say that these things should be done but it is hard to actually do them in ways that are effective and acceptable to all parties.