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While I respect the concern of Secretary of State Hilary Clifton, about the sharp rise of food prices, among the poorest nations; I cannot help but express my serious reservation about the advise given to the poor to Diversify. Diversify may be from food crop to cash crop, from agriculture to industrialization, etc.
Diversification is in itself a very serious business like re-engineering, transformation and renaissance. It is about looking at the glass as half full instead of half empty. It is about seeking investors and risk assessment tools. Imagine, all these high risk activities even the Wall Street, and financial markets could not handle themselves. We still remember, the series of derivatives, hedge funds and all sorts of financial alternatives that bust the financial regulations and sank the global economy.
Remember, the stimulus and recovery packages in trillions given to the very people who sank the economy? Who is investing in the poor to take chances with diversification. The question and the real advise is please give stimulus and recovery packages in trillions to the world poor and see what they can do with it. Withholding resources and money from the poor and advising them to diversify is utter hypocrisy and shame. Show me the money and the resources for diversification is my recommendation.
Imagine demanding diversification of economy for the poorest world population when the Global Economic Crisis is due to too much diversification of the financial regulations. All the hedge funds and derivatives, what is referred to the creatve diversification of the financial markets sank the global ecoomy.
Now, you are poor and you are expected to diversify, when you are not able even to sustain life with the established markets. To diversify, you need creative and educated business people who can take riks.
The poor cannot take risks with new ventures as they do not have risk absorbing extra resources. Imagine, if you are poor, you are 24/7 obsessed with food and basic survival strategies. How can you think beyond the now and the present of survival.
We need to invest and inject cash in poor countries to start with so that they can diversify. So, where is the money is the real question.
Let me read your alternative perspective and here is the World Bank perspective for what it is worth.
show details 8:16 AM (1 hour ago)
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