The Bretton Woods System On The World 's Natural Riches

872 Words Apr 23rd, 2015 4 Pages
Nature has always played an important role in human history. Increase in international trade, globalization and creation of big corporations caused negative impact on the environment. The new economic framework established after the end of the World War II benefited the interests of the multinational corporations. The Bretton Woods system was aimed to boost the production and consumption of commodities. The World Bank and the IMF, led by the US, financed corporations and exploitation of resources. The Bretton Woods system was supposed to make use of the world’s natural riches. The fall of Communism in the world gave more power to the corporations and led to the creation of the free market system. The US government tried to help underdeveloped nations to export wood, livestock and other commodities to industrialized countries.

The establishment of new financial institutions helped the “public works projects” to rise. One of the examples of these projects was the Tennessee River Valley in 1933. The government constructed 20 dams and coal-fired power plants with a purpose to provide electricity to poor areas. Although the project provided many benefits, it also created a quite few ecological concerns. Construction of dams flooded to many areas. Mining of coal caused pollution and erosion. The same situation was evident across the globe. Thailand has built 26 irrigation and hydroelectric projects since 1957. Most of them were financed by the World Bank. The country started…
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