How to reduce the development gap
Improving education means increasing the skills and qualifications that a person has. This, in turn, helps reduce the development gap by creating a more skilled labour force, which can help to boost development by transforming the economy from primary based, to increasingly more tertiary based.
Reducing female illiteracy
By reducing female illiteracy, women can escape the domestic sphere and get to work. This means that the fertility rate should drop, as women are longer seen as baby makers, which releases the pressure of population growth in many LEDC’s.
By paying farmers and producers a fair price for their goods, it means that MEDC’s and their MNC’s cannot exploit the LEDC’s for their resources. This means that the development gap can be reduced as the producers should retain a higher income, thus allowing them to grow more crops for more profit. In the long term this could produce enough profit to send their children to school and thus break the poverty cycle.
By cancelling debts, LEDC’s become less dependent on MEDC’s as they no longer owe them any loans. This means that the development gap can be closed, as with no debts to pay, LEDC’s can utilise all their finance and funds for the development of their economy. This could help to invest more in institutions, like healthcare and education for example.
Free medicine for HIV sufferers
HIV medicine can be expensive without subsidy. By making it free, not only does it make sure that HIV suffers receive the care they need, it also means they are better able to afford other needs like food and water and shelter. This helps close the development gap as the medicine allows those suffering from HIV to become more active in the workforce, as they spend less time off work. But also, with higher spending power the multiplier effect with their increased ability to earn wages will help local businesses and local economies develop.
Grassroots projects involve setting up the foundations for an economy to be built upon. For example, using micro-credits to kick start petty businesses on a small scale. But on a larger scale, grass root projects help to establish a culture of training and education, for example, better farming practices. This, if stuck to, could help reduce the development gap by creating sustainable techniques at producing crops, thus higher yields for now and the future for export, allowing poorer countries to export more and use the finance in return for more development.