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POLS 1090 (4)
Chapter 5

McMichael Chapter 5

by Anu J
2 Pages
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York University
Political Science
POLS 1090
Marc Weinstein

PART II – The Globalization Project (1980s to 2000s) CHAPTER VI – Instituting the Globalization Project - The development project slowly evolved into the globalization project - Harsh realizations with the development project: o Material benefits confined to top 40% of world’s population while rest suffer in harsh working conditions, struggle to survive on marginal lands/slums o Markets continue to be exploitive of third-world countries, and accumulate wealth for the global minority with purchasing power - Calling it a project is the politics of it o Markets are neither natural nor free o Markets are institutionalized constructs managed by powerful players  IFIs  Banks  Corporations  States  NGOs - Globalization project provides political intervention to overcome limits of development project o Intervention = 2+ decades of military (forced) and financial disciplining - Export-oriented industrialization fueled development, focused on developing the economies of the first world powers - Defining development: nationally managed economic growth o Redefined officially in WB’s 1980 World Development Report: participation in the world market (even if it’s for the sake of exploitation of resources to export) Securing the Global Market Empire - Liquidating and exploiting third-world countries because they are major exporters of essential commodities o For example, southeast Asia:  85% of
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