Download Debts have locked many poor countries in vicious

Final version (456 words)
Writing task
Topic: The international community should reduce or eliminate the debts of the
world’s poorest countries. To what extent would you support or reject this proposal?
International debts have locked many poor countries in the vicious circle of
underdevelopment though their in-vain efforts are made to pay off the persistent
loans. Confronting this fact, a proposal discussing elimination of debts for the world’s
poorest countries has been given. To some extent, I agree that it should be passed for
ethical, social and economic reasons.
Regarding ethical and social aspects, this proposal helps to prove the humanity of the
human race and stabilize the society. Whichever regimes countries follow, socialism
or capitalism, they all compromise that the rich should help the poor. Therefore, poor
countries, especially ones in Africa should be free from their heavy debts when they
even have to worry about their daily meals. Moreover, this kind of foreign aids would
contribute to social gap bridging. If the debts are not lifted, the poor may never catch
up with the rich in the context of the higher interest rates and the rich countries’
shaper development. In addition, locked in the cycle of debts, the underdeveloped
nations can hardly invest much money in healthcare, entertainment and education. As
a result, their living standard is quite low, especially compared to that of their lenders.
In respect of economy, eliminating the loans for the poor countries can benefit both
debtors and lenders. Escaping from this burden, the recipient nations are able to
invest money in education and technology to produce high-quality human resources
as well as industrialize their economy which mainly depends on agriculture. As a
result, they can develop their economy more healthily and stably. In addition, this
kind of social work ensures a market of consuming goods for the developing
countries. As the poor countries may be in bad need of hi-tech machineries after the
debt elimination and are in great gratitude, the priority to import such kinds of goods
would be given to their previous loaners. As a result, the export turnover of the
developing countries would be increased, especially when the poor ones have ability
to buy more goods than before.
However, the situation of the poor countries should be considered carefully before
decisions because the massive debt elimination may shake the banking system of the
loaners for loss of huge profits. Therefore, we should give priority to the ones whose
loans are the heaviest and put greatest pressure on their economy. Meanwhile, the
other debtors can be partly supported with lower interest rates.
In conclusion, the proposal needs to be passed for ethical, social and economic aspect,
though some criteria should be outlined to choose the poor countries that are in worst
need of debt elimination. Once this project is taken into effect, it would help to prove
the strength of global cooperation to deal with worldwide issues.