“50 Years is Enough!”
After fifty years of the WTO and the IMF being established with complete control it is time for a change on what views are accepted. The way the website describes the IMF is, “In any discussion of economics these days the International Monetary fun or IMF, is likely to be mentioned” Throughout the website …show more content…
Now what is shows that the IMF have money to help out nations in need. Notable, and honorary like a loan for the nation so it can get back on its feet. However, the issue with that is like any loan it needs to be paid back, and the policy for repayment is not really out there. Just like regular loans its hidden until you get confronted for it, and those that benefit are the privileged. In Jerry Klobys’ book, Inequality, Power, and Development he discusses how, “from 1984 to 1990, debt collection from the World Bank and the IMF resulted in a net transfer of $155 billion from the poor nations to the rich nations” (Pg 166). The amount of information given to the world on the profit made from these debts is not discussed. The real knowledge of what happens financially to any nation around the world is not easily understood. What the 50 years is enough website I see is promoting more economic education, a public lesson to all willing to take time out to read more into this organization. As Professor Robinson discussed, “Therefore, we study Economic, and Productive structures, and unequal participation in them, in order to analyze and understand …show more content…
Through the entirety of their website has long list and links of the good this organization does. The vast amount of opportunities provided, and the unity and equality presented by each nation in relation with the WTO. The fair onset of rules, locations/areas, and policies placed equally of every nation regardless of superiority. Offering different ways of connecting with the many social media outlets, and files it is displayed as the best option to handle all things with involving trade. Being the only global trade organization can be beneficial with a clear objective and leaders in on group to discuss everything needed. This is also seen as another form of power, the absolute control of who dictates trade, and the rules behind it. As Professor Robinson discussed in lecture this can be considered an ‘structural power’ because, “controls over resources” (January 31 Lecture). This influence on every nation within the WTO list has the power in a select few members’ hands. What may seem like a complete gift with all the nations being able to have the equal chance no matter size or population is a lie. Theirs limits on who hold that power within the groups even if they openly say there is none, no organization will reveal what are their true interests. With Kloby explaining that, “As late as 1999, WTO critics were