THIRD WORLD WAR HISTORY Essay

This led to a mired rise of debt and poverty in the borrowing countries due to heavy debts amounting to billions of dollars. The countries affected by the Third World War were 47 in number and ten of them were from Africa. When putting together, these countries owe debts amounting to $422 billion which had made every individual in those countries to be walking with a debt of $380. The rise of the nongovernmental organizations had been in the pursuits to remedy the situation despite many challenges brought about by the political, social and economic aspects in the poorest nations. The International Jubilee 2000 Campaign, as well as the creditor governments had in the last ten years attempted to cancel approximately fifty-five percent of debts that they owe to the borrowing nations.

In addition to this, the currencies of the poor countries had reduced to nothing and the rate of inflation was too high. Increase in the bilateral and multilateral debts needed exceeded average and needed a solution. High inflation was intended to meet the country’s budget and repay the desired debt annually. Accumulation of foods became a problem in these countries because people could not afford more to store for the future. The debtors as well reached a point that they could no longer help these countries leading to political, social and economic turmoil. Consequences of the war The extreme borrowing in the poor nations, there had been economic recession leading to inflation raising the prices of goods and services were reduced making the poor nations rich and politically strong.

The value of the currency in the poor countries that had dropped drastically due to the profligate authorities as well as their political instability was brought back to normal. Furthermore, the debtors raise the value of their currencies too high so that they could be able to avoid any debt crisis. The war led to increased spending among the poor countries in health, education and further led to some improvement in the millions of lives among the borrowers. The political and financial campaigns led to autonomy among the poor nations as well increasing their ability to stand up without the donor nations. The war finally came to an end in 2030 after the poor countries had improved in all aspects. The level of technology had also helped the poor countries to remain active and avoiding any situations that lead to the debt crisis.