SOAN 2040 Lecture Notes - Lecture 5: Neoliberalism, International Monetary Fund, Neocolonialism

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Pay attention to the history of the world bank and the imf. They were formed to give small loans to countries so they could rebuild themselves. Put in place to stabilize and help europe re-build. At the time developing countries were not independent nations, they were colonies. It now controls money all over the world. Take note of the mechanism of debt in relation to jamaica"s ability to thrive as an independent nation. Make globalization work for the benefit of all- no benefit for the rich without benefit for the poor as well (statement from the imf) Can"t generate income from other sectors have to rely on tourism (hence why agriculture industry is failing) If you come to jamaica for a vacation you will most definitely land in montego bay and not. Jamaicans have to give exhaustive account of why and how if they want to enter america vs. us being able to simply show a drivers licence.

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