SOC 808 Lecture Notes - Lecture 9: World Trade Organization, International Monetary Fund, Chocolate
17 Apr 2017
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Document Summary
Only 10% of global trade if food and agricultural products. Only 25% of world food production is traded on international markets. 3 eras of trade: modern colonialism (1600s to 1940s) -> the start of slavery; as the european populations started to grow, we started to see more factories; they tried to get raw produce from other countries. Thus began the use of fertilizers, pesticides, etc. We thought that to get developing countries out of poverty, they had to produce food the same way we do in north america (i. e. mass production) World trade organization (wto: wto is criticized because some say it"s bad for individual governments (reduces their controls) E. g. cannot discriminate against any companies -> as the government of canada, i can"t favour the canadian company over the chinese company. International monetary fund (imf) and world bank: structural adjustment programs (saps, gives long-term loans to developing countries; problematic because interest is high and with strings attached (i. e. saps)
