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joyce
Joined: Oct 15, 2003
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Country: Switzerland
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cancellation of third world debt... a step towards national team building
March 13, 2004 - 07:51 AM
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the third world countries today are indebted to the deveoped countries. whats your view about the quest for cancellation of third world debt and its inpact towards nation building and globalisation?
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Richard Elkind
Joined: Jul 21, 2003
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Very Heavy Topic Joy18
March 14, 2004 - 02:42 AM
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This is a very difficult question Joy18, I think a fine example of a third world country coming into their own is Malaysia. Here is a country that refused help by developed nations and put together a plan to modernize, teach and build their country.
In business I have been told by experts, that no mater what your bankers offer you, in the end, you must be your own banker. Dont take loans you cant pay, and push for your own terms. Bankers (like developed countries) have a habit of pushing money on companies ( countries ) that they dont neccessarily need, because times are good, and they need to get rid of their inventory (money). That does not mean that we should take all they offer.
Its a ballancing act between those who truly want to help develop third world countries and those that want to sell their products to them, at any cost.
Like I said, I look at it like building a company. Be your own credit manager. Have your own business Plan. Be strong, Demand what you need, and be willing to say no, if it does not meet your goals, or be willing to turn down what they offer, and demand they give you less if makes sense. Remember things will change and the money they lend at some point will stop, you must be prepared for it, and able to run off your own cash flow when this happens, and if you have borrowed to much money... it doesnt mater what your cash flow is if you have borrowed to much.
For counties. It is important to have people in power who want to build for the good of the people and their nation. Education of the people should be a long term goal. Building Industry within the country, that is owned by its own people. Business ethics are very important, because the growth does not happen over night. It is important that it does not only concentrated with a few. Train and help others to realize the potential they have in building and owning their own business, and hiring their own people from your country, and train them for the jobs that are required.
One of the biggest issues is the corruption of the few that know how to own and run business, and work to keep the money and power in their own hands. This is the biggest down fall.
Long term planned goals. will help this, and reliying less on world banks.
There have been books writen on this. The reason I mention Malaysia, is they have taken over 20 years to develop and build their country, so that their own people control their future. It was not easy, perhaps their Pime Minister was not always right, or fair, but if you look at his track record, and what he has done to help his own people and lift them up and educate them... you see the planning and effort that went into their success.
well, we could talk about this for weeks, and weeks, but that is my two cents.
Sorry... I can be long winded... lol There are alot of counties that have part or all of their debt retired at one time or another, and then they take another loan.. my feeling is... dont take the money to begin with and if you do, use control, have a good plan, and stick to it. It is impossible to resolve all the issues over night. Corruption of the few over the majority will ruin your chances of success or having a prosperous country.
Plan your work and work your plan....
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