International Organizations And International Trade Agreements

Several developing countries are sunk in debt and poverty because of the arrangements of global establishments, for example, the International Monetary Fund (IMF) and the World Bank. Their projects have been vigorously reprimanded for a long time and have been constantly blamed for poverty. Moreover, developing countries have been in constant expanded reliance on the wealthier countries, despite the IMF and World Bank's claim that their main goal is to fight poverty (Shah, 2013). During recent decades, the poorest nations on the planet have needed to swing progressively to the World Bank and IMF for money related help, because their impoverishment has made it unthinkable for them to acquire somewhere else. The World Bank and IMF connect strict

Albercht, M., & Sack, S. (2011, August). International trade statistics 2010. Retrieved from World Trade Organization:http://www.wto.org/english/res_e/statis_e/its2010_e/its10_toc_e.htmAnderson, S., & Cavanagh, J. (1997, January 1). World trade organization. Retrieved fromhttp://www.fpif.org/reports/world_trade_organizationBloomberg.

First, I will explain the role of empowered institutions and countries in limiting the economic activities of developing countries, impeding on their ability to survive. Afterwards I will explain the obligation people in privileged positions have to improve the lives of those in compromised positions, at a certain degree of self-sacrifices. Finally, I will critically analyze and disprove the counter argument, which attempts to relieve us of the aforementioned duties, by discrediting the roles of institutions and developed countries in the prolongation of impoverishment.

International development and underdevelopment are major issues in global society today. John Perkins’ book The New Confessions of an Economic Hit Man is a very critical account on the activities of private corporations such as MAIN and international financial institutions such as the World Bank and the International Monetary Fund and how many actions are based on self-interest, corruption and greed. The book does an exceptional job at giving us an insider’s perspective on why debt induced developing nations are in a constant state of underdevelopment from the corrupt actions of Economic Hit Men and their colleagues Jackals who deal with the dirty side of the business and political economics. Global economics and debt have

Ranging from the UN World Food Program to Oxfam, initiatives aim at improving conditions for those trapped in poverty, alleviating hunger and malnourishment, as well as enable individuals to become self-sustainable. Some of the programs and assistance provided to countries is not without drawbacks and criticisms. For instance, World Bank and IMF development assistance has been accused of interfering with countries’ ability to manage affairs sovereignly (e.g. conditions attached to the receipt of aid). Likewise, US AID assistance comes with foreign policy attachments that may not always be appreciated. Furthermore, even though NGOs are becoming more mindful of local conditions and cultures, they inadvertently promote western perceptions concerning human rights and values. Yet, despite differences in goals, approaches, and other aspects at appears reasonable to expect sustained, cooperative efforts to reduce poverty. The cynic may argue that nations pursue self-serving goals and aim to distract citizens from internal problems, while NGOs’ involvement justifies their existence…

Theorists have argued that some poor nations are held back due to political corruption, religion and a culture of poverty. According to the conflict approach, poor nations, are poor because of unequal relations with powerful nations and not because they lack resources. The economic and political systems of the powerful nations dominate and exploit the weaker ones in trade and other relations while preventing them from becoming dependent. Reader pg. 271 on global stratification, suggest that in the future power and influence will only grow. Technological advancements are playing a role in creation and reinforcing of the global economies.

Gambia with its bad leadership cannot afford to stay away from international organizations, it needs assistance in so many sectors due to bad leadership. So many times the former Gambia government will embark on flamboyant lifestyle without improving the livelihood of Gambians. A president who brags about being one of the richest presidents in the world and with his wealth, Gambia is far better off without the external assistance from the international agencies. A false rhetoric and unrealistic dream that interfere drastically and hinder the development in Gambian communities. Gambia suffer the consequences because many international organizations are run by the world’s powerful republics and a poor nation cannot afford to be in conflict with those organizations looking at the scarcity of natural resources in the Gambia. If international treaties are

In the book “The New Confessions of An Economic Hitman” by author John Perkins, he discusses in detail his experience as an economic hitman, and the role he played in underdeveloped and developing countries. He writes about his, various multinational corporations, political institutions, and the United States role in indebting countries to profit off them. Essentially, his book is about the United States way in expanding globalization and what can be done to stop the exploitation of other countries. John Perkins offers a new perspective on the study of international development and underdevelopment, and goes beyond numbers and graphs, to explain other factors that are a key contributor in the under development and development of some countries. In this essay, the strengths and weaknesses of this book will be discussed and compared to the perspectives of development covered in this course through the lectures and textbook. The opportunities that are presented around the world for this book to improve development outcomes, and threats around the world that may halt efforts to purse the changes that John Perkins wishes to see will also be discussed.

First, let us examine how economic policies like the structural adjustment policies implemented by the IMF affect a country. A great example of this is detailed in Ault and Sandberg’s “Our Policies, Their Consequences”, where both authors explore how seriously the structural adjustment policies changed the economic state in Zambia. As these authors point out, the terms of the loans “reflect the economic and political interests and values of the world’s wealthiest nations (470)”. It is seen here already that that does not bode well for Zambia. One clearly can see that globalization is just another way first world nations still colonize the world, but instead through means of economic and trade conquests. Now, the article continues on to talk about the kind of changes that the IMF implemented on Zambia: they wanted them to devalue their currency and stop supporting many domestic programs, social welfare programs, and fire federal employees and instead they wanted them to focus on increasing their exports for the global market. And what are changes without its consequences? Because the IMF favored the growth of international markets, the local economy in Zambia suffered greatly. Devalued

Far from being seen as objective entities, the World Trade Organization (WTO), International Monetary Fund (IMF), and World Bank are often conceptualized as instruments of the developed world. It is alleged that they are used to enforce crippling economic policies upon the developing world. To some extent, it is perhaps inevitable that these international institutions are seen as such. The memory of colonial exploitation in Latin America, Africa, and other developing nations runs deep, and the power dynamic of these institutions relative to the nations they are ostensibly helping often echoes the relationship of the colonizing to the colonized.

Focusing on the institutions such as the International Monetary Fund and the World Bank, we can cite several occasions in which their influence has shaped global politics, whether for selfish or selfless motivations. The concept of poverty alleviation

Globalization is a very broad topic; a sweeping term established in the minds of individuals primarily over the past quarter-century. It describes the widespread global integration of economic, political, social, and cultural systems that is shaping the world we live in today. Marked by the establishment of trade liberalization movements such as the General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO), globalization has greatly accelerated over the past twenty-five years, indeed, "world exports have grown at an exponential rate of 6.0 percent in volume [annually]" (Tremblay, 2015). Depending on the angle in which we choose to look at it, we may define and interpret it differently: good or bad, positive or negative. As Jan Aart Scholte describes, "knowledge of globalization is substantially a function of how the word is defined" (Scholte, 2000). Initially, the topic of globalization touched primarily on local and global issues such as poverty and world peace, homogenization, and cultural, economical, and political convergence. Now, it is understood to be a far more complex subject that is "contingent, ambiguous, contradictory, and paradoxical" (Stromquist et. al., 2014). Regardless of whether one chooses to take a positive or negative standpoint on globalization, the fact remains that this process is taking on an increasingly global scale and has profound effects on individuals, nations, governments, and businesses every day. Moreover, it is

The three major international economic institutions are the International Monetary Fund (IMF), the World Bank and the World Trade Organization; this book mainly focuses on the IMF and the World Bank, due to the author’s first-hand experience with both institutions. The IMF, a public institution built as a guiding hand for economic stability around the world, has brought false

The World Trade Organization (“WTO”) Dispute Settlement System and the International Centre for the Settlement of Investment Disputes (“ICSID”) are two of the most widely used methods of international dispute settlement.

‘No man [or woman] is an island’ is a sentence that captures humanity’s need for interaction in order to secure its best interests. In the context of international trade, supranational structures are necessary for all parties’ best interests. With globalisation proceeding at an ever increasing pace, the frequencies and magnitudes of economic interactions between actors of different states increases exponentially (Nye, 298). Growing complex interdependence creates a common interest for cooperation, in terms of pursuing a common framework of regulation and establishing a common standard (Nye, 299-301). As such, this begs the question of how the above can be implemented and achieved. International organisations, agreements and governance is the functionalist answer to the above question (Rourke, 165), even under the framework in which states only consider self-interests. Throughout the course of time, these instruments have grown in number and complexity. Examples of their more rudimentary forms are the International Telecommunication Union (ITU) and the Universal Postal Union (UPU), which were both established more than one and a half centuries ago, providing a common technical standard among states (Rourke, 137). In the past century, more sophisticated forms of international governance in political economy evolved. For example, the General Agreement on Tariffs and Trade (GATT) Uruguay Round in 1996 established the current World Trade Organisation (WTO) and an elaborate