Effect on third world countries?

amistupid

How is the credit crunch going to effect those who already have nothing.
Are their economies less reliant on credit and therefore less vulnerable. Will falling commodity prices actually help them survive? How will it effect the level of aid given by the richer nations? How will it effect the chartiable funds? Any comments.

How ironic http://uk.youtube.com/watch?v=spQo_HIg-o8

tradetime

There were a few charitable funds caught up in the Bernie Madoff scandal, so they're dead in the water. I would imagine the developed world will have to focus more on it's own survival for the near term.
As for commodity prices it should provide some temporary relief, but that's a mixed blessing, there will be very poor countries who rely on commodities exports to provide what little they have.

amistupid

Thank you. So as I feared those suffering most are more likely to die, while we stress out over losing a few quid interest. Put's life in perspective really.

gozomark

calling them 3rd world doesn't help....

amistupid

Sorry politically incorrect? How about "developing but still totally disadvantaged"