Chapter 8: The societal context
People against globalization are against globalization because it results in low wages, poverty, poor
working conditions, environmental damage,..
The World Bank and International Monetary Fund
Their mission was to support countries economic growth and development through trade. World bank
loans money at low interest or no interest for countries for economic development projects. IMF- gives
monetary cooperation, secures financially, makes international trade easier, promotes high
employment, economic growth and reduces poverty.
Hands off policies for developing countries:
Believe that free trade policies based on comparative advantage are best for helping developing
countries to achieve