World countries and their debt...

Preface
The locations of Italy and Greece, referenced in my notes below, are shown here

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I recently ran into the following graph on the BBC news website. Click on the image (or link) below to read the short interactive article that clearly and concisely illustrates the basics behind the current debt problem of Greece and Italy along with other European countries, Japan and the United States.

Regular link: http://www.bbc.co.uk/news/business-15748696

It would surely be interesting to see such a graph for developing countries, so I did some research. While I could not locate one, I did find out some interesting information. See the links at the end of this post, if you want to read more about it.

Reading about the debt crisis currently faced by so many nations brought about some questions that are not easy to answer, like:

Why are so many European countries that have been considered wealthy for a long time in such financial strain?

What are the causes of debt of the developing countries? What can be done to relieve their debt which often cripples their ability to improve their economy?

Why is there more concern about rescuing the economy of Greece and Italy than that of Somalia, for example?

While there is debate about the reasons as to why so many developing countries are buried under the weight of foreign debt, here are a few causes to consider:

Legacy of colonialism, debt accumulated during periods of war and political instability after their independence from their original colonial power, lack of natural and human resources (often a result of colonialism as well), lack of education, nutrition and infrastructure as a result of years of civil war.

Whatever the reason(s), I think it is hard to argue that the attention currently given to struggling developed countries versus struggling developing countries is very different.

A thought came to mind. All of us have been given a second chance at one point or another during our lifetime: maybe we did something wrong as a child, or at work or we may have hurt our spouse, and have been forgiven...

Shouldn't we give a second change to others as well?

If so, how can we relieve the pain of those struggling nearby or far away?

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For more in depth analysis, see for example:

http://www.gao.gov/new.items/ns00161.pdf

http://en.wikipedia.org/wiki/List_of_countries_by_external_debt

http://en.wikipedia.org/wiki/Debt_of_developing_countries

http://en.wikipedia.org/wiki/List_of_countries_by_public_debt

http://www.gao.gov/new.items/d09162.pdf

A New Start. - Geography nuggets. -

After coaching my daughter Isabella for 3 years for the National Geographic Bee, in which she placed in the top 20 nationally in both 2010 and 2011, I felt “depressed” by the poor level of geographic knowledge of most US students and educated adults, so I decided to do "a little something" about it... Using this blog and my website (www.geokid.org) I will deliver short, geography nuggets, in both written and video form.

But wait: isn't learning geography boring and useless?
I am asking you to give me the benefit of the doubt and let's find out together:
Japan Tourism Agency is thinking about offering free roundtrip flights to Japan to promote tourism, which has been very badly affected by the devastating earthquake of 2011. The final decision has not been made yet, but, if I were you, I would enter my name to be notified. To find out more follow this link: http://www.jnto.go.jp/eng/topics/2011/free_flights.html

So you may be lucky enough to visit Japan for free. But what do you know about it?


Video obtained using Google Earth

Japan is an island on the opposite side of the Pacific Ocean than California.

It is about a 12 hours flight from Dallas, TX to Tokyo, the capital of Japan.
Japan has an emperor who for centuries was venerated as a God.

What else do you know about Japan? Try the following:
What is the tallest mountain of Japan, which is also a volcano?
Approximately how many people, do you think, live in the Tokyo metropolitan area? 2 million, 15 million, 35 million?
Did you know that Japan has the highest life expectancy in the world but also one of the fastest aging populations in the world? In 2009, about 23 percent of the population was over 65, and by 2050 almost 40 percent of the population will be over 65. Why is that relevant?

There are other geography blogs and websites out there, some of which I visit daily to learn new things. Here is what will make my offer different:

• Fun, Interesting and simple geography tidbits, focusing on useful and applicable information.

• Reader-driven content. Please submit suggestions and requests for geographic subjects to cover. Which foreign countries have you visited? Which ones would you like to visit and why? Have you ever completed a mission trip overseas? Do you support any nonprofit organization in developing countries? Do you speak a foreign language?

• And… starting soon, if readers like the idea, I plan to offer the opportunity for regular, geography live chats. Let me know what you would like to talk about. Maybe your social studies homework? Send me an email: info (at) geokid (dot) org and I will provide you with my Skype ID, for the weekly geo-chat sessions.

Looking forward to your feedback.