Effects of debt in a country
Effects of debt in a country 7gKak
As civilization progress, numerous countries have started to emerge as global superpowers since the last century. However, there is still a large majority of developing or undeveloped countries where the people are struggling to make ends meet. Ironically, debt has played a significant role in this outcome. Improper management by the government due to corruption and civil wars has led the country into it's doom. A country with debt has no right in many cases. For instance, the country can't develop infrastructure, improve people's quality of life in terms of healthcare and education and also fall under the hands of imperialists. In order to repay their debt, mostly given back to the global superpowers, they need to force a way to make money. The most common way is to exploit Earth's resources. In this case they force the citizens to work in mining sites with little income and high mortality rate to obtain precious minerals. Moreover, some countries would try to print more money to give back to the rich. As we all know, inflation occurs and the consequences are unimaginably terrible. In toto, if a country has gone into debt, everyone will suffer and rarely there will be a positive impact on the society.
As civilization progress, numerous
countries
have
started
to emerge as global superpowers since the last century.
However
, there is
still
a large majority of developing or undeveloped
countries
where the
people
are struggling to
make
ends
meet
.
Ironically
,
debt
has played a significant role in this outcome. Improper management by the
government
due to corruption and civil wars has led the
country
into it's doom. A
country
with
debt
has no right in
many
cases.
For instance
, the
country
can't develop infrastructure,
improve
people
's quality of life in terms of healthcare and education and
also
fall under the hands of imperialists. In order to repay their
debt
,
mostly
given
back to the global superpowers, they need to force a way to
make
money. The most common way is to exploit Earth's resources.
In this case
they force the citizens to work in mining sites with
little
income and high mortality rate to obtain precious minerals.
Moreover
,
some
countries
would try to print more money to give back to the rich. As we all know, inflation occurs and the consequences are
unimaginably
terrible. In
toto
, if a
country
has gone into
debt
, everyone will suffer and rarely there will be a
positive
impact on the society.
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