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Stilglitz postulates that the IMF is intentionally trading the troubled country's economic stability and best interest for the fulfillment of the IMF's agenda.
Similarly, in Escobar's Encountering Development: The Making and the Unmaking of the Third World, it is discussed how the World Bank is preying on the poor in under developed nations by putting their own interests ahead of those who need aid the most...
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Escobar postulates that the banks of rich countries loan dollars to the third world country banks. These loans then go to projects that involve international bidding, and all projects the World Bank coordinates are "mostly awarded to multinationals and experts from the First World?" (Escobar, 165) Escobar believes that the World Bank is creating new opportunities for Multi-National Companies, from developed countries, by way of investment in "transportation, electrification, and telecommunication projects?"(Escobar, 165) And that the bureaucrats of the World Bank, as Escobar discusses, are development tourists, not because they receive exorbitant salaries, first-class travel or that they stay in the best hotels? it is because they visit the troubled countries capital cities on trips and view the problems it deals with in a "neoclassical economics" (Escobar, 165) sense...
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Globalization: A Tool Used to Stunt Third World Growth
Many students expand their view of the world during their time in college. Such growth often results from encounters between students who have lived different cultural, economic, or academic experiences. With your future growth in mind, describe a...
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