To what extent can social and economic inequalities be reduced?

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  • Created by: Jake199
  • Created on: 02-06-14 18:56
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  • To what extent can social and economic inequalities be reduced?
    • FDI
      • EU takes 46% of FDI, while Africa takes 3.4%
      • Used for infrastructure
      • Brings in new skills and technology
      • Increases employment
      • Increases money in economy and therefore allows economic growth
      • Often money leakage, and benefits a TNC instead of people
    • Trade
      • Fairer
      • Removing blocks/ restrictions to allow developing countries into global market
      • World \trade Organisation efforts
      • North American free trade agreement (NAFTA)
      • Difficult for landlocked countries
    • Loans
      • Support infrastructure development
      • Many taken out in 1970s
      • African nations total is $295bn
      • Crippling interest rates
      • Countries with large debt cannot develop
      • Drop the debt campaigns
    • Debt relief
      • Abolition of debt or reduction in interest rates
      • Benin- 54% of saved money spent on primary healthcare
      • Tanzania- Abolition of debt has meant abolition of school, = 66% increase in attendance
      • Mozambique- Debt relief has meant free immunisation programmes
    • Conservation swaps
      • Debt written off in exchange for ensured conservation of endangered resources/ habitats
      • USA took away $1m of Bolivian debt for conservation of rainforest
    • Aid
      • Long term/ short term
      • Bilateral// multilateral
      • Top down bottom up
      • Large scale- big impact but expensive e.g Akosombo Dam, Ghana
      • Small scale- smaller impact but inexpensive
      • EU gave Mozambique €7m to subsidise 25000 farmers.  This increased production by 50%
      • Often corruption e.g Zimbabwe, Nigeria
      • Not linked to local economies
    • Uk
      • Taxes and subsidies
        • Progressive tax system
        • VAT not charged on food and children s cloths
        • Benefits system
        • Fair
        • Costly
      • Local planning
        • Improvements to housing
        • More housing
        • Creates jobs
        • Costly
        • Not all houses affordable
      • Regional planning
        • EU convergence fund e.g Helston Cattle market and Tremough
        • Direct investment
        • Creates jobs
        • Money not spread
      • Law
        • Gives equal opportunities
        • Hard to enforce
        • Doesn't always change attitudes
      • Education
        • Free for all
        • Bursaires
        • Free school meals up to year 1
        • Raise compulsory attendance age

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