An examination of the challenges of globalism and how current international arrangements help or hinder global integration.
Written in 2009; 1,177 words; 4 sources; MLA; $ 40.95
Paper Summary:
This paper examines how globalism affects relations between states and their institutions. The author describes how supranational organizations, such as the International Monetary Fund and the World Bank, endeavor to manage the global economy by controlling the movements of funds between nations and providing financial aid to developing and "transitional" economies. While America's national debt skyrockets, nations such as China and India play the international finance game, manipulating the institutions that govern the world economy for their own benefit, and that of the corporations that operate within their borders. The paper concludes by asking whether this skewed status quo should be allowed to continue or whether there should be a re-alignment to achieve true equity.
From the Paper:
"The International Monetary Fund and World Bank are major players on the world economic scene. Founded at the end of the Second World War in Bretton Woods, New Hampshire, the International Monetary Fund, or IMF, is a multinational organization that attempts to manage the global financial system through regulation of exchange rates, international trade and exchange payments, and so forth. Originally basing currency exchange on a gold standard, this was effectively dropped by the United States in 1971, in a decision by President Richard Nixon that allowed currencies to float against one another in the market. Since that time, the IMF has concentrated primarily on trying to assist what it terms Lesser Developed Countries (LDC's) and Countries in Transition (CIT's) by lending them money to either stabilize their currency or offset their national debt."
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