Saturday, August 04, 2007

Only Trade Can Solve Global Poverty

By Peter Lilley
Telegraph Co. UK.
July 24, 2007

"Even if the rich countries fulfil their pledges to increase aid, the total amount will still be inadequate to finance all the health, education, nutrition, water and sanitation that people living on the edge of survival need.
Above all, they need economic growth to boost their incomes. And trade is the great dynamo of growth."
"When millions of children go to bed hungry and we can do something about it, we cannot pass by on the other side of the world. And poverty affects our security and prosperity as well as our humanity." (to continue: Only Trade...)

In this article, Peter Lilley who chairs the Conservatives' globalisation and global poverty policy group, ask us to face the truth about the massive corruption and inefficiency in many third world countries and argues that foreign aid alone will never be sufficient to make a significant difference in world poverty.

Unfortunately, it is often those who profess to care the most about the world's poor that advocate policies guaranteed to keep them poor. The opponents of globalization would rather let the poor of the world starve than see them participate in the world economy. The truth is that greed and enlightened self-interest will lift more people out of poverty than all the philanthropy in the world. Rod

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