The Global Financial Crisis: What’s Next for Poor Nations

The international crisis that has engulfed the world’s banks and other financial companies is unprecedented and cause for deep thinking among the global citizens.

One component that requires to think hard and long on this issue are the so called ‘third world countries.’ This term actually describes countries that are low income and are dependent on the richer nations for financial support in order to run their affairs.

The issue of the possibility of a whole nation filing for bankruptcy is not only funny to hear, but very strange and scary.

The richer nations, as speak are seriously engulfed in problems of their own making and this may indicate that the third world countries have to wake, and wake up fast in order to start handling their own financial affairs.

This has to be so because: aid, may not come tomorrow.

This idea is not too wild to be true. Countries like America, Britain, Germany, Russia and several rich nations cannot prioritize on handling the problems of other Poor-African-Nations if the welfare and wellbeing of their own citizens are at stake.

America and NATO are spending billions of dollars fighting in Iraq and Afghanistan because they have interests in those countries. And it’s just logical that this spending trend will continue as millions of Africans and other third world communities continue to wallow in poverty when all they are asking for is a water pump for irrigation, only costing fifty dollars.

Many Africans are dying because they cannot afford the expensive Aids drugs that are manufactured in the west.

When it comes to spending money on Aids, TB and malaria research, the pledges of support are very mean, and the actual release of the moneys are very, very slow.

Why is it so?

It’s because the security and wellbeing of the developed nations are not threatened by these diseases. Hence people can manage to take it easy.

But because the credit crunch and the wholesale collapse of banks was going to strike home at lightning speed, the leaders have responded with lightning speed.

Countless millions die daily from the effects of poverty and underdevelopment. Spending on agriculture and ad other matters that may uplift the living standards of the suffering world citizens are very minimal.

Again the reason simple, people in the world’s biggest capital cities are not threatened.

What then is the way forward?

From the current financial crisis of the world and the way the world leaders have responded with ferocious speed, one can clearly deduced that the poor nations of the world must work at solving their own problems.

The rich nations have the capacity to help, but they have just shown that they will not respond to stuff that is not crucial to them.

Just think about how the world responded to the threat of SARS spreading around the world. In that situation, action was well coordinated and people were united.

For this reason, citizens in poor countries must know that aid, yes, aid, is not the way out. Aid, they must realize can and will only be given when it convenient and when it will cost nation.

It is time for Africans and other third world communities to wake and take their destiny into their own hands.