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Assessing Foreign Aid and Economic Development for LDCs: Key Considerations

This lesson delves into the complex debate on foreign aid and economic development for Least Developed Countries (LDCs). It explores whether the U.S. should increase or decrease foreign aid, the characteristics of LDCs, and the challenges they face in pursuing industrialization. Key topics include the Human Development Index (HDI), funding sources, potential costs of aggressive development strategies, and the necessity of supporting LDCs for future global stability. Join us as we analyze the needs of developing nations and the implications of international assistance.

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Assessing Foreign Aid and Economic Development for LDCs: Key Considerations

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  1. TOK Lesson # 12:Development By PresenterMedia.com

  2. Key Points We’ll Consider: • Should the U.S. give more or less foreign aid? Economic development What is a third world country, a.ka. developing nation or LDC? 1 2 3 4 5 6 7 • Should LDCs industrialize to improve their status? • What does the HDI tell us, and not tell us? • What is required for LDCs to join the developed countries? • What are some negative aspects (costs) of an LDC pursuing aggressive development? • What are the potential sources of funding LDC development?

  3. What is a third world country, a.k.a. developing nation or LDC? Characteristics of an LDC • Low income • Poor health care • Low level of education • Lots of kids • Primary sector jobs • Corrupt government • Poor infrastructure, • Etc, etc.

  4. Developed vs. Undeveloped countries RICHEST COUNTRY? Luxembourg GDP/Capita = $52,000 HDI = .95 Poorest Country? Congo GDP/Capita = $454 HDI = .52

  5. Video time! UN LDC video: http://www.unmultimedia.org/tv/webcast/2011/05/un-opens-conference-on-unlocking-economic-potential-of-world%E2%80%99s-poorest-countries.html

  6. Other classifications of countries: newly industrialized countries (NICs) such as China, India Transition economies Such as Poland, Vietnam

  7. What is required for LDCs to join the developed countries?2003 UN Human Development Trends: http://hdr.undp.org/external/gapminder/2003/hdi_trends.html

  8. What are the potential sources of funding LDC development and breaking the cycle of poverty?* Loans* Grants * FDI* Micro-credit schemes

  9. Should LDCs industrialize to improve their status? Yes…. and No…(Does that surprise you?)

  10. Should the US give more or less foreign aid?Less!More!U.S. $50 B.U.S. .2% of GDPSweden $ 5 B.Sweden 1% of GDP

  11. WHY should we worry about LDCs? WHY should we help them develop?* Future trade* Future political support * Less terrorism* Because it’s the right thing to do!

  12. What are some negative aspects (costs) of an LDC pursuing aggressive development?* Environmental damage* Resource depletion* Cultural losses* Human rights abuses* Debt

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