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International Monetary Fund
Globalization refers to the increasing global relationships of culture, people and economic activities and even the technological relations which aids the globalization as well.
Aspects of globalization
Trade; Globalization of trade entails that human beings have greater access to a variety of goods and services across the international borders .for example, cars from Germany, software from India, clothing from China, and coffee from Colombia etc. Therefore a country which exports more primary commodities such as food and raw materials gain a lot compared to ones which export less.
Movement of people; Globalization has enabled people to move from one country to another to look for better paying jobs and better employment opportunities, making most countries borderless and movement non-restrictive as before. Due to this movement, people are able to gain different skills and knowledge from the foreign country and implement it in their home countries hence increase in productivity and quality products.
Spread of knowledge and technology; Globalization has resulted to the spread of knowledge across the world since the world has become one global village where people can move from one country to...
This is of great importance because FDI in services affects the host country's competitiveness by raising the productivity of capital and enabling the host country to attract new capital on favorable terms. It also creates services that can be used as strategic inputs in the traditional export sector to expand the volume of trade and to upgrade production through product and process innovation.
Asian newly industrialized economies have been performing well since 1970 as shown in the chart. Per Capita incomes have been moving quickly towards the higher levels in the industrial companies.
Western hemisphere has been performing poorly since 1971. The per Capita GDP was high in 1971 but remained constant up to 1981 when it started dropping as shown on the chart.
Middle East; The per Capita income in the Middle East has been dropping drastically since 1971 up to 1999
Africa; The per Capita GDP in Africa…
References
IMF Staff (2002), "Globalization: Threat or Opportunity." Retrieved April12,2000 from http://www.imf.org/external/np/exr/ib/2000/041200to.htm
Joseph Stiglitz (2002), "Globalism's Discontents" Retrieved January 1, 2002 from http://www.prospect.org/cs/articles?article=globalisms_discontents
International Monetary Fund was created in 1945 with the purpose of facilitating trade, improving capital flows, controlling exchange rates and basically helping Europe reconstruct its economy after the devastation of the Second World War. However over the decades, the role expanded and changed considerably as IMF became a financial institution that advises countries on economic policies, acts like a development agency and also steps in during times of financial crisis
International Monetary Fund (IMF) serves as an important function that makes international trade less challenging. The IMF is a powerful international institution that works together with the World Bank to provide support and guidance to nations in all stages of economic progress. The IMF is responsible for managing the global financial system and supplying loans to its member states to help alleviate financial problems. Agreement for its creation came at the
In some countries, the effects of the SAP doctrine of privatization have proved devastating. Kline (38) also notes IMF's loans stipulating that countries who borrow money change certain practices, that albeit, may be aimed at improving conditions also foster concerns. Rather than having to assure a goal is achieved at a particular time, ethical decisions might best only call for steps that advance conditions for a desired goal to
These critics argue that the United States and Europe have been the principal financial support for the IMF for over fifty years and that, but for, such support the IMF would long ago ceased to function as a viable organization. Those supporting this view, however, also argue that the IMF has lost sight of its original goal and ventured into new areas that might be best left for others
Globalization: Matter of Perspective There is little doubt that the globalization debate is highly polarized between those who see it as a "good thing" for the majority of nations, and those who see it as just another means to exploit the poorest countries. The two articles "Globalisim's Discontents," written by Joseph Stiglitz, and "Globalization: Threat or Opportunity," authored by writers working for the IMF, or International Monetary Fund, are excellent examples
WB, IMF & WTO Neocolonialism according to the Free Dictionary (2011) is the application of a policy where a major power utilizes the political and economic power to continue its influence on the less developed nations. It also entails the control of politics of a country that in theory is sovereign and independent through the domination of its economy. It can as well be referred to as the exploitation of weaker