Unit 3_Global Systems and Global Economics.pdf
Unit 3_Global Systems and Global Economics.pdf

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Northeastern University
International Affairs
INTL 1101
Ioannis Livanis

INTL1101GlobalizationInternational Affairs Unit 3 Global Systems and Global Economics NotesLiberal International Economic OrderShadows of the Great DepressionSet of regimes established after WWII to promote monetary stability and the free flow of trade and capitalBretton Woods Conference 1944WTOGATT IMF World BankSpurred by globalization and interdependenceInternational Monetary Fund IMFNow a UN agencyStabilizes international monetary exchange ratesLender of last resort balance of payment problemsDominated by wealthier statesweighted voting Never meant to do developmentaid not what it was structured to doits a bankNot the best terms supposed to save us from the mistakes of the 1930sgives loans so that states dont defaultConditionalityTensions with the global southMeet certain requirements in order to get sums of the total agreed amountHighly politicalhas shown tendencies to make better agreements with countries that vote with the United States andor France on UN issuesTends to overpay to developed countriesCommunism blamed when newly independent countries chose that system in the 1960sturned to IMF for loans
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