Tuesday, August 13, 2019

Nationalism and Development in the Third World Essay

Nationalism and Development in the Third World - Essay Example Third world food production could be enhanced by the techniques of crop handling, pest control and storage and reduce the annual loss of 10% on food production in these nations. Sustainable farming has helped to augment the yield in food in third world nations (Science Daily, 2006). Sustainable farming practices require less water which is very important given the prediction that by 2025 the third world countries would face physical or economic water shortages. To avoid further economic disasters, IMF was set up as public lenders after the World War II. IMF supplies member nations with money to overcome short-term credit crunches. IMF maintains â€Å"structural adjustment policies† (SAP) for lending money to the member nations. It was supposed to help the third world develop and get out of debt but by early 1990s most of the third world nations went deeper into debt and remained underdeveloped (Rowden 2001). The SAP only reduces the state’s role in their economic development process and forces them to eliminate or lower the trade barriers or tariffs, reduces subsidies to the businesses and they are not allowed to privatize public utilities. They also have to eliminate their controls over currency and capital. Thus third-world good are not sold in the developed markets. There were suggestions that debts of third world countries should be cancelled but this does not resolve the issue as in future these countries may still need loans. Third world countries are aware that information is power as internet is used for almost everything today. They are aware that digital technology can have an impact on the flow of investment, goods and global services in the market place. They are calling for the establishment of a new international order of information (Mitchell, 2002). Without a substantial change in the system of disseminating information, their development remains in jeopardy. Cultures will erode and become homogenized as the power of media to

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