International Development

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Political Studies
POL 140
Dr.Heather Mc Keen- Edwards

International Relations International DevelopmentPotential Consequences of Financial CrisisGlobal SouthDeveloping countries the most defenseless and often times innocent bystanders face a perfect storm world bank and for them the crisis may translate into o Decreased international investment and decrease demand for exports o Lower government spending in social AND productive sectors o Lower prospects to attain the Millennium Development Goals by 2015 o Rising poverty levels Not all developing states are in the same shape Problems with finding termsAll terms for grouping states are problematic o Developing States o Third World o SouthGlobal South NorthSouth Relations and the Politics of Global DebtHistorical Basis of the Debt Crisis o Starts in 1982 continues through the 80s and dies down in the 90s o Rapid decolonization in the 1950s to 1960sBecoming an independent state you want to get more power and to be more important in general get industrialisedIf you want to industrialize you have to pay to do it How do you finance Loans and borrowing o Oil Crisis in the 1970sOne outcomemassive lending to Developing States by states and private banks in the Global North1973 and 1979 were the two big oil crisesOPEC created a cartel to up the oil prices o How does a state go bankrupt
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