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Should third world debt be canceled?
#1
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#2
Of course not. First of all, who would cancel it? And secondly, who would lend them a cent ever again if they knew their credits are in danger of being cancelled?

This just doesn't work from a practical perspective.
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  • ProClifo
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#3
(2019-02-26 03:23:10)aaaaaa123456789 Wrote: Of course not. First of all, who would cancel it? And secondly, who would lend them a cent ever again if they knew their credits are in danger of being cancelled?

This just doesn't work from a practical perspective.

a brave stance from someone that lives in Argentina
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#4
Quote:Going by the historical definition, nations including Finland, Sweden, Ireland and Switzerland were Third World countries. Based on the definition that is used today, these would not be considered Third World countries. Instead, what many now interpret “Third World” to mean encompasses economically poor and non-industrialized countries, as well as newly industrialized countries.
(from http://worldpopulationreview.com/countri...countries/)

How exactly do you know which countries are considered third world?

Also, most if not all countries who are losing money because of this wouldn't agree to it.
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#5
A financial system cannot function without credit and debt. Without those, your currency is just pieces of paper and discs of metal.
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#6
And moreover, it's not money that the third world need the most, but education and infrastructure. Money can help with that, but not if they'll only end up in the pockets of corrupt people from the government. You can't just give third world countries money and expect they'll use it to develop. A lot of the money would likely go down to corruption and populist movements.
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#7
(2019-02-28 17:47:01)ProClifo Wrote:
(2019-02-26 03:23:10)aaaaaa123456789 Wrote: Of course not. First of all, who would cancel it? And secondly, who would lend them a cent ever again if they knew their credits are in danger of being cancelled?

This just doesn't work from a practical perspective.

a brave stance from someone that lives in Argentina

Not really. It would be extremely scary if we had to pay for any and all capital investments up front because nobody was willing to lend us a cent.
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#8
Yea
nobody want debt becuase nobody is gonna pay..

                                               life is a ? ¡s it

confussed isnt u  



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#9
How? What would this even entail?
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