Foreign Aid Programs are a Great Investment :: Politics Political Essays

The United States has proven again and again that foreign aid can be a worthwhile venture. While donating less than one half of one percent of the federal budget towards economic and humanitarian assistance, the United States has been able to establish trading markets for the present as well as the future. Between 1990 and 1993 alone, U.S. exports to developing nations increased by $46 billion ("Ten Questions Commonly Asked About U.S. Foreign Assistance Programs"). This dramatic change would not have happened if it were not for foreign assistance programs. Trade opportunities do not simply materialize, the groundwork must first be put in place. Through business code reforms, the strengthening of commercial banks, and the setting of reasonable tax and tariff standards, USAID helps to create an environment that will attract American investment and trade. Take for instance, the example of South Korea. During the 1960s and 70s, South Korea was one of the United States' prime targets for foreign assistance. The U.S. now exports more to South Korea in one year than was donated during both the 1960s and 70s. Because of this, the two have become extremely close allies, and are now two of the best trading partners in the world ("Ten Questions Commonly Asked About U.S. Foreign Assistance Programs"). Likewise, financially aided agricultural research in developing countries has resulted in millions of dollars of improved yields for U.S. farmers ("USAID Research Helps U.S. Farmers" ). By 1992, two-thirds of the United States rice acreage was planted in varieties acquired through agricultural research funded through foreign assistance programs. With this technology, the United States is now the world's second leading rice exporter ("Agricultural Research"). As another example, while in Latin America, USAID invested less than $5 million in the research of greenbug resistant hybrids. By 1989, economic gains to the United States had reached almost $400 million. Due to a recent breakthrough, U.S. foreign assistance research has lead to a rust free wheat crop. Kansas and Oklahoma alone are expected to save over $90 million in harvest costs ("Agricultural Research" ). Furthermore, according to USAID at the International Development Conference on January 1995, 200,000 U.S. jobs were created through foreign aid programs. This was possible because USAID requires "nearly all foreign aid be spent on U.S. Foreign Aid Programs are a Great Investment :: Politics Political Essays The United States has proven again and again that foreign aid can be a worthwhile venture. While donating less than one half of one percent of the federal budget towards economic and humanitarian assistance, the United States has been able to establish trading markets for the present as well as the future. Between 1990 and 1993 alone, U.S. exports to developing nations increased by $46 billion ("Ten Questions Commonly Asked About U.S. Foreign Assistance Programs"). This dramatic change would not have happened if it were not for foreign assistance programs. Trade opportunities do not simply materialize, the groundwork must first be put in place. Through business code reforms, the strengthening of commercial banks, and the setting of reasonable tax and tariff standards, USAID helps to create an environment that will attract American investment and trade. Take for instance, the example of South Korea. During the 1960s and 70s, South Korea was one of the United States' prime targets for foreign assistance. The U.S. now exports more to South Korea in one year than was donated during both the 1960s and 70s. Because of this, the two have become extremely close allies, and are now two of the best trading partners in the world ("Ten Questions Commonly Asked About U.S. Foreign Assistance Programs"). Likewise, financially aided agricultural research in developing countries has resulted in millions of dollars of improved yields for U.S. farmers ("USAID Research Helps U.S. Farmers" ). By 1992, two-thirds of the United States rice acreage was planted in varieties acquired through agricultural research funded through foreign assistance programs. With this technology, the United States is now the world's second leading rice exporter ("Agricultural Research"). As another example, while in Latin America, USAID invested less than $5 million in the research of greenbug resistant hybrids. By 1989, economic gains to the United States had reached almost $400 million. Due to a recent breakthrough, U.S. foreign assistance research has lead to a rust free wheat crop. Kansas and Oklahoma alone are expected to save over $90 million in harvest costs ("Agricultural Research" ). Furthermore, according to USAID at the International Development Conference on January 1995, 200,000 U.S. jobs were created through foreign aid programs. This was possible because USAID requires "nearly all foreign aid be spent on U.S.