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A new report finds the values of exports of the world's 50 poorest nations climbed by a collective 80 percent between 2004 and 2006 - their highest rate of economic growth in 30 years. The report notes this strong growth performance is uneven and just a handful of oil and mineral exporting countries account for 76 percent of growth. It is a 50-country list on which Pakistan also appears somewhere.
UNCTAD Secretary-General, Supachai Panitchpakdi, said the Least Developed Countries, the LDCs, are increasingly dependent on selling a few unsophisticated products. And this, he says, will create problems as the global economy slows down and demands for their primary commodities lessen. "We are concerned with the sustainability of economic growth. We are concerned with that. This is because the way of the economic integration of the LDC's into the global economy is making them mostly vulnerable to external shocks," he said.
The UN have completely forgotten that the same was taking place when the world economic forums and development authorities were busy paper pushing strategies to enhance the developed countries’ economically by mass producing consumer and industrial items that were sold all over the world. Then, at that point, it was not an issue. The flooding of conglomerates’ products were publicised to be a great venture and move towards a healthy world economy. Today, the same people - the same organisations - negate the needed exports by the poor countries that became poorer by the conglomerates pushing their marketables to the limit. Following is the report’s story:
The LDC's main exports include petroleum, low technology manufactures, minerals, ores, metals, and farm goods. The report warns these countries will continue to go through so-called boom and bust cycles unless they diversify what they produce and sell on world markets.
The report says these countries must increase manufacturing, improve their use of science and technology, and find greater sources of domestic investment rather than depending on official foreign aid. Despite the high rate of economic progress, the report says the total number of poor people in the LDCs continues to increase. It says three-fourths of those living in these nations continue to survive on less than $2 a day and nearly 280 million people live on less than $1 a day.
UNCTAD secretary general says Asian countries are making greater inroads in reducing poverty than are African countries. "The extreme poverty in terms of number, there are still more than 200 million living in African LDCs, 70 million in Asian LDCs and one million in island LDCs," said Panitchpakdi. "So it seems that poverty incidence is still highest in those countries which are commodity exporters depending on petroleum, mineral and agriculture products for the majority of their export."
The report argues the poorest countries can alleviate poverty if they export the right kinds of products. It says that despite their recent record export performance, LDCs remain marginalised in the global economy. Facing the facts, there’s soon going to be more money on the planet than there ever was and God have mercy on us when this happens in another few years.
This was a summary from the report discussed at UNCTAD. As usual, discussions and agendas were set again, keeping this year’s G8 summit and its dual-faced outcome in mind. But to try and teach the poor countries what to do and what not to do with their fragile economies is always the way of the UN. After all, China, too, was once one of the pitiable countries in terms of economy. Today, they stand the biggest threat to the biggest economy of the world, ready to buy – a few years back - the US national treasury bonds. This is precisely why the summits and conferences show their welfare and caring sides to the poor nations - to control them in economic ways. And that they achieve by showing them the bait that matters the most – food.
We hear no mention of the companies stashing 70 billion dollars forming a conglomerate to safeguard their interests in ways they know better and are better not discussed, like the schemed war between UK and France at Waterloo, where the senior son, Rothschild, overnight became a staggering billion sterling richer. But that is another article altogether. We will talk about it when we talk of pure money matters.
Of matters like these, the poor are not aware of and neither should they be... because, if the awareness reaches them then they will question. And it will be a collective simple “why?”
Let us and this article with a joke to suit the situation:
A missionary was once trying very hard to preach religion and ways of God to a poor African people who could barely make a living. The preacher without fail, everyday, told them of good and evil, sin and piety. When this started becoming a little difficult for the natives to understand, one innocent stood and asked, “Father, would God punish us if we did not know the difference between good and evil?” The missionary, in a very patronising manner said, “No my child, God will not punish those who do not know the difference between good and evil.” The innocent quickly asked, “Then why are you trying to teach us that difference?”
