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Foreign aid: Tied to political considerations. 

Neo - COLONIALISM. Foreign aid: Tied to political considerations.  It serves more as a subsidy for the rich countries' exports than as a development tool within the poor country. 

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Foreign aid: Tied to political considerations. 

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  1. Neo - COLONIALISM • Foreign aid: • Tied to political considerations.  • It serves more as a subsidy for the rich countries' exports than as a development tool within the poor country.  • Multilateral aid from international organizations like the World Bank often require structural changes in the Third World Country's economy which create hardships among the poorest segment of that country's population. • The budget must be balanced; social expenditures must be reduced; subsidized food and housing prices must be allowed to rise according to market conditions.  • The economic policies imposed by the World Bank work to the detriment of the poorest segment of the societies on which they are imposed. 

  2. Third World Debt.  • Borrowing is another method of financing economic development.  • Much of the Third World has borrowed huge amounts of money:  • much of it has been squandered on military purchases, siphoned off by corrupt officials, and invested in massive projects that ultimately failed.  • The interest on this debt in now choking further development.  Many Third World countries spend much of their hard earned foreign exchange on debt payments.  • Unless there is massive debt relief, the future development of many Third World countries looks bleak.

  3. CYCLE OF POVERTY

  4. The 2013 Human Development Report • "THE RISE OF THE SOUTH: HUMAN PROGRESS IN A DIVERSE WORLD” • examines the profound shift in global dynamics driven by the fast-rising new powers of the developing world and its long-term implications for human development. • China has already overtaken Japan as the worlds second biggest economy while lifting hundreds of millions of its people out of poverty. • India is reshaping its future with new entrepreneurial creativity and social policy innovation. Brazil is lifting its living standards through expanding international relationships and antipoverty programs that are emulated worldwide. • But the "Rise of the South" analyzed in the Report is a much larger phenomenon: • Turkey, Mexico, Thailand, South Africa, Indonesia and many other developing nations are also becoming leading actors on the world stage.

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