A new paradigm of foreign aid: developing nations helping developing nations.
Aid to develop the developing nations is commonly thought of as foreign aid given by developed nations to states less fortunate than they. This doesn’t have to be the case. The less developed nations in South America, Africa, and the Asia-Paciﬁc region, where most of the developing world lies, also exchange amongst themselves research and capital, in what is commonly termed as South-South cooperation. The aims are simple: to foster innovation and development at a local level, to self-ﬁnance many of the required projects for long-term development, and to shift political power away from the current world superpowers. How can the developing countries achieve all these goals? Where will they ﬁnd the capital and the political will to fulfill these ambitions?