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Of the 6 billion people on earth, 1 billion—primarily in North America, Europe, and East Asia—receive 80 percent of the global income. Meanwhile more than 1 billion people subsist on less than one dollar a day. Despite billions in development aid, many Third World nations are no better off than they were half a century ago. Why are developing countries still so poor? And what can international development agencies such as the World Bank do to help?
Wednesday, March 3, 2004 0 min readOf the 6 billion people on earth, 1 billion—primarily in North America, Europe, and East Asia—receive 80 percent of the global income. Meanwhile more than 1 billion people subsist on less than one dollar a day. Despite billions in development aid, many Third World nations are no better off than they were half a century ago. Why are developing countries still so poor? And what can international development agencies such as the World Bank do to help?
