The economy acts an important role in
the process of developing countries’ empowerment. People would normally discuss international
aid, education etc. as the possible solution for economic development of Latin American countries. The Dominican Republic speaker in
one of the CSW 62 sessions brought up a very bold idea: Break the depressing
economic system.
The
inner depressing economic system
The growth in The Dominican Republic is
very concentrated in a small group of people and not spreading to the majority.
One of the biggest reasons is that those primary goods were imported from other
developed countries which could be produced by using the rich amount of raw material
and labor inside of The Dominican Republic. But the present situation is that
sugar gets exported from inside of Dominican and candy gets imported, cocoa
flows out and chocolate flows in. In this method, the small group of people in
Dominican could make profit off the import business.
How
to break it
- · Eliminate subsidies. It is impossible for Latin American farmers to compete with the farmers in developed countries who receive billions of dollars in subsidies. Additionally, buyers’ consumption decisions are more based on cost efficiency.
- · Empower the citizens to be able to make better choices of The Dominican Republic’s governing body which is willing to give back to the society.
- · Build a complete production chain inside of The Dominican Republic to keep the profit to stay in its own country.
Contribution
from the UN and banking representatives: empower rural women through accessible banking
UN representative indicated that 42%
of rural women (nearly 1.1 billion) don’t have access to financial services and
a 7% gap remains between man and women globally. Women make up around 40% of
agriculture labers, but they have less access to financial services.
Additionally, the research shows that women spend their money more on household
items such as food, water, and children’s warfare, which includes education and
health.
The main reasons stop rural women from
the banking system:
- · There are not enough bank branches in rural areas
- · The online banking system is so complicated for rural women that they don’t have enough confidence in themselves to cope with it
- · Banking fees
- · Lack of trust towards banks
Strategies for change:
- · Bring banking and financial service to rural women: Develop abundant banking agencies in rural area which can provide very detailed financial services to rural women with little cost.
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