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Third world debt Vs Need for Technology

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Introduction

Third world debt Vs Need for Technology Background and underlying concepts: Many developing countries have very large debts accumulated since the 80's, and the amount of money that they owe is quickly increasing dramatically. Trying to pay off these debts has become a serious problem for these countries, as they now owe money to commercial banks and also to organisations like the World Bank, and the International Monetary Fund, and to First World governments. During the last fifteen years around $1.3 trillion was paid by the third world countries to the developed countries in the form of loan repayments and interest on the loans. Every month around $12 billion is passed on from economically poor counties to the developed countries in debt servicing. In sub-Saharan Africa, some countries spend almost half their national budget on financing debt owed to the rich western nations. This is the reason why these counties cannot invest in technology to develop their own country. The technology market is vast industry that is always changing with time. It is estimated that around 5.5 billion people do not have access to technology such as the Internet, as computer are to expensive for these people. While over half of the UK households are online, only 0.1% of homes in Bangladesh and India have access to the Internet. ...read more.

Middle

This will help in educating and training people in developing counties for work and School. IT as an Enabler: Information technology is made up of two main factors, hardware and software that carry complex tasks such as capturing, storing and manipulating data. Information technology is widely use around the world in developed countries. IT has also help in producing a strong economical foundation within these counties, as it enables companies to produce their products more effectively and efficiently. As the technology sector is an ever growing market it is always creating new opportunities for business as well as to the general member of the public. Unfortunately developing counties cannot take full advantage of information technology as they do not the funds to expand their technology as it is always changing with time. Without investment in technology Third World counties cannot create a stable economy within their country. Legal and Ethical Issues: There are numerous legal acts that cover the use technology, such as the Data Projection Act 1998 and Computer Misuse Act 1990. These acts can take-up an enormous role when developing a country using technology. These legislation cover business and individuals from the following scenario * Altering, copying, moving or deleting programmes or files * Using or trying to obtain someone else's password or personal information * Spreading a computer virus (worms, trojans etc) ...read more.

Conclusion

Recommendations: To enable Third World countries to develop many actions have to be taken both by the Third World countries and developed countries. Steps have already been taken in assisting Third World countries by the UK and other leading European countries by trying to cancel all debt owed to these countries. If this is carried out successfully then it will enable the countries to expand their economy as the money they used to pay towards paying of the debts can now invest that money in technology. An excellent approach in developing countries was the simputer, if this technology could be produced in all developing countries, it would allow more users to explore the technology and the Internet. It would also allow people to trade over internet, which would generate money for the economy in their country. However the Third World countries have to take advantage of the help they are receiving then they will not develop and their economy will remain in the same situation. Sources: BBC News: - http://news.bbc.co.uk/1/hi/technology/3578309.stm - Accessed on 08/Feb/05 BBC News: - http://news.bbc.co.uk/1/hi/business/4145007.stm - Accessed on 08/Feb/05 BBC News: - http://news.bbc.co.uk/1/hi/sci/tech/1560771.stm - Accessed on 08/Feb/05 BBC News: - http://news.bbc.co.uk/1/hi/world/south_asia/3437493.stm - Accessed on 10/Feb/05 Her Majesty's Stationery Office: - http://www.hmso.gov.uk/acts/acts1990/Ukpg 19900018 en1.htm - Accessed on 15/Feb/05 Her Majesty's Stationery Office: - http://www.hmso.gov.uk/acts/acts1998/19980029.htm - Accessed on 16/Feb/05 Microsoft.com: - http://www.microsoft.com/presspass/press/2004/aug04/0 811WinXPStarterPilotPR.asp - Accessed on 10/Feb/05 ?? ?? ?? ?? Vrajesh Patel 1 222is ...read more.

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