Role:Similar to the WTO it's members pool money into loans for countries that apply for help and in return those countries must be open to a global market and external investment.
Method:The member countries pool money into funds for poorer countries to apply for but, to recieve the fund those countries must be open to a global market and external investment from TNCs, some may even have to spend less of the fund on infrastructure and more on TNC development to recieve the fund. Member countries vote on which countries to help but vote strength is dependent on how much that country invested into the fund and not how many members there are from each country.
Example:South Asian countries have been invested in and are now more intergrated in global economy however, living conditions are atrocious and the countries are in huge debt for the loan.
Comments
No comments have yet been made