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Us Foreign Aid Essay

1534 words - 7 pages

South Korea is one of the best cases of foreign aid, which was assisted by the other countries’ foreign aid like the U.S. Owing to foreign aid; South Korea has been able to become a developed country. Recently, South Korea wants to help undeveloped countries which such as Vietnam, Philippine and Myanmar. So, there is constant controversy concerning the foreign aid. Some of critic claims that South Korea gives little foreign aid to other countries. However, they say that South Korea wants to make profit use of foreign aid. Even though many experts support disadvantages of foreign aid, it also has many good ways to help undeveloped countries because it purpose is not profits but relief. ...view middle of the document...

However, one of economist William Easterly and others argue that aid can often distort incentives in poor countries in various harmful ways. Aid can also involve inflows of money to poor countries that have some similarities to inflows of money from natural resources that provoke the resource curse.
At first, foreign aid can help poor countries’ economies. Clearly the most important reason why poor countries seek and accept foreign aid is for the purpose of economic development. There are several economic reasons why poor countries have accepted aid. The first reasons are improve the investment climate and promote entrepreneurship, as well as provide direct support in trade. Usually, advanced countries’ companies has excellent program about teach entrepreneurship and investment. Second reason is enable payment of interest on foreign debt. The poor countries concern about payment of interest because hey find it hard to pay those interest. So, if advanced nations help to poor countries, they have chance to restore stability to the country’s economy. Third reason is supply the lack of domestic resources such as foreign exchange. Therefore, support economy as foreign aid is good for poor countries.
The second reason is foreign aid can offer good quality of education system by building schools or libraries. For example, one hundred years ago, many U.S missionary built schools and libraries in South Korea. Of course, it has reason for engage in Christian mission work. However, it was also dig up hidden talent so it is one type of foreign aid. Those schools and libraries contributed much to the development of South Korea’s economy. Moseley states (2006) “In developing countries, our nation can, with this requested increase in foreign aid funding for education, help meet our international commitment to the goal of Education for All.” (para. 17). Indeed, education aid can make our world better place to live. Education aid can help not only their education system but also their future. Education aid will prove useful some day when poor countries go out into the world. There is no single better investment than ensuring access to a quality basic education for all. Moseley again states “Education builds civil society. It fosters tolerance and understanding, and promotes democratization and stability. An educated citizenry that is capable of making informed decisions, voicing opinions, and holding elected officials responsible is essential for democracy to survive and flourish. And, as secondary school enrollment increases, government corruption decreases.” (para. 13). Therefore, education aid will help not only developing countries’ child but also their countries future.
Third, foreign aid can support medical service to undeveloped countries such as providing vaccine and building the hospitals. No matter how poor countries make effort, they cannot wipe out disease and poverty. Even though they have hospital, their need a technical assistance about new...

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