Protesting During International Financial Conferences

2277 words - 10 pages

If someone had told any news editor that their front page story for 29th November 1999 would be about an obscure trade conference in a little known American city, the reaction might well have been complete surprise. Seattle was the meeting of about 5,000 delegates from 150 countries for a new round of global trade talks. Like the Uruguay Round begun in 1986 and the Tokyo Round started in 1973, the Seattle Round looked to slash tariffs, abolish subsidies and open up investment for companies seeking to get into global markets. The effect the protestors had on the WTO meeting was unprecedented, they not only stopped the talks for a day but helped to raise issues that gave smaller and poo ...view middle of the document...

These strings come in the form of policy prescriptions called "structural adjustment policies." These policies require debtor governments to open their economies to penetration by foreign corporations, allowing access to the country's workers and environment at bargain basement prices. Structural adjustment policies mean across-the-board privatisation of public utilities and publicly owned industries. They mean the slashing of government budgets, leading to cutbacks in spending on health care and education. They mean focusing resources on growing export crops for industrial countries rather than supporting family farms and growing food for local communities. For decades people in the Third World have protested the way the IMF and World Bank undemocratically impose such policies on their countries. In just the last year, those protests have spread to the power centres of the developed world.The institutions have forced debtor countries to cut social spending on health, education, and other public services. They have pressured poor nations to charge their own citizens for the use of public schools and public hospitals. And they have demanded that countries keep their wage levels low, a policy which harms ordinary citizens but benefits multinational corporations.The United States and Europe were instrumental in building the post-war economic system, including the GATT. They were a main driving force behind no less than eight major rounds of trade negotiations - including the successful Uruguay Round and the creation of the WTO. When America and Europe share a common purpose, the system can move forward. When they clash, there is inertia. The political importance that countries now attach to this system, and their growing reliance on open world markets and international trade is because they believe that history states this is how they get more jobs and income. It is also a reflection of the pressing need to coordinate and reinvent policies for an integrated world.The General Agreement on Tariffs and Trade emerged after World War Two in 1947 with the aim to establish a stable, multilateral economic order. The World Trade Organisation was established under patronage of GATT. Upon ratification of the Round?s Final Act by members, the World Trade Organisation replaced GATT as the global multilateral trade organisation. The WTO summits ty to cover a wide number of issues such as agriculture, labour Rights, electronic commerce, reforming the WTO, environment, tariffs and business. Recent protests against the IMF and the World Bank have shined a harsh spotlight on the way the institutions put the interests of wealthy corporations in the developed world above the interests of the world's poor majority.Created after World War II to help avoid Great Depression-like economic disasters, the World Bank and the IMF are the world's largest public lenders, with the Bank managing over $200 billion and the Fund supplying member governments with money to overc...


The International communities had an important role in the abolishment of Apartheid. - school - Essay

1336 words - 6 pages disconnect themselves from South Africa the way that they did. Academic Boycotts also took place. Universities from around the world refused to attend conferences in South Africa. “Permanent Anti-Apartheid Demonstrators were organised outside South Africa House in London and outside the Yale University library in new haven, Connecticut USA.” (Mayers, 2017). Thus proving that international communities did not want any connection to South Africa due to

Essay On Entering Foreign Markets(Taiwan)

8973 words - 36 pages meat.Cheakpeas:It can be used in fodds and deserts, meat foods.And also diabetics can use it.2)PRODUCT LIFE CYCLEThe year 2005 has so far witnessed steady progress of Taiwan's continuous efforts to promote economic reform and industrial upgrading. Thanks to ongoing internal reforms across a wide range of areas, as well as favorable international economic environment, the Taiwanese economy is moving on a healthy track after the economic slump at the

homework paper for treaty of versailles - texas southern - research

2357 words - 10 pages European colonies should have a say in their future. Russia - Russia should be allowed to operate whatever government it wanted and that government should be accepted, supported and welcomed. Belgium - Belgium should be evacuated & restored to the situation before the war. France - Restore Alsace-Lorraine and any lands taken away during the war. Italy - The Italian border should be readjusted according to nationality. National Self

Asses the successes and failures of the League of Nations commissions in the 1920's and 1930's - anonymous - essay

1860 words - 8 pages of thousands of refugees throughout its active period however, it cannot be ignored that its abolishment of the High Commissions post left millions harmed during the 1930s. As well as the Refugee commission a drug advisory commission also took its place. Many saw it as a success. With the creation of the League of Nations in 1920, it became obvious that an international convention, such as the Opium Convention, should not be overseen by an

Financial Liberalization Paper

8415 words - 34 pages Free Rate Reforms or Liberalization on Financial Development & Economic Growth" especially focuses on SAARC.1.3 Origin of the StudyAs a partial requirement of B.B.A. program we are required to prepare internship report. This report has been prepared during the three month's Internship Program in Bank Asia Limited, Dhanmondi Branch. In the classroom we get the opportunity to know the theoretical part of the subject. But without practical

An Analysis on How Effective Communication Techniques Can Contribute to a Success Business - Ashford BUS 600 - Research Paper

2541 words - 11 pages arise during these communication flows are referred to as barriers, breakdowns, or obstacles towards effective communication (Weber & Friedman, 2000). These problems can actually be harmful as it can develop in the messenger, the listener, or to both. Both, managers and employees, must recognize and understand why communication problems occur in order for them to identify the problem and solve it. Some problems that can effect effective

HRC Resolution on human trafficking of women and children in Africa specifi - MUN - MUN Resolution

1493 words - 6 pages Free between countries on the issue and establishment of International law to combat human trafficking; 3. Calls For increased cooperation and flexibility among nation-states and individuals working toward the elimination of human trafficking in all forms within the affected countries by means such as but not limited to: a. Greater communication between said countries by means of international conferences and dialogue, b. Emphasizing transparency of

Strategic Leadership

3463 words - 14 pages huge amounts of capital flows among developed and developing countries (Prasael et al. 2003). Various international financial institutions such as the International Monterey Fund (IMF), the World Bank, the World Trade Organization (WTO) and the Bank for International Settlements (BIS) were developed subsequently as a way of coordinating the process of globalization and ensuring world peace and security.2.2 BenefitsAs the steps of globalization

Suez Crisis GCSE Coursework

1764 words - 8 pages Eden's best efforts to gain support for the war against Egypt by sending letters to Eisenhower comparing Nasser to Hitler and giving broadcasts to the general public there was still very little support for the war in the international community and at home in Britain.While Eden's was floundering at home in Egypt Nasser was more popular than ever. In source E we see the British public protesting against Eden which is in direct contrast to the

Taiwan Insurance Market - International Business Course Study

4050 words - 17 pages 1999, there were many merger and acquisition activities happened especially foreign insurers. Prudential life insurance company, Taiwan branch took over 70% ownership from Chin Fon life insurance Co., Ltd in 1999. Assets of Atena's financial service unit and international business unit were transacted to ING in 2000.While the majority of foreign insurance firms having a preference on merger and acquisition with existing firms, many foreign firms

Combined cooling and heating power - University - Essay

1486 words - 6 pages first year on studying core courses that will help me during my research work and also on learning Chinese language since it is very essential for experiencing the true culture of china, and effective communication with both the university colleagues and local community. I would like to attend relevant seminars and conferences at the university. This time will also be utilized for finalizing my research topic and direction after exploring

business plan for interior designers - Uf / Interior design - business plan

1166 words - 5 pages employees who want to increase productivity and reduce overhead costs. Specifically, we specialize in consulting white collar executives on office processes such as job tracking, production, getting the most out of meetings, leadership, financial or hiring best practices, and other needs relevant to potential customers who serve in a management role within small or large organizations that may be bogged down by processes, bureaucracy, or technical

International Accounting Standards - University of Reading - Assignment

2315 words - 10 pages of fair value available. In this case measure under cost until fair value become reliably measurable or use cost model.[footnoteRef:4] [3: International Accounting Standards Board (2015) IFRS Part A, IFRS 13 (Fair Value) page A421] [4: ICAEW. (2013). Financial Accounting and Reporting Study Manual, Intangible Assets page 233] · Or cost model: this model requires all investment property to be measured according to IAS 16. Intangible Assets

commonwealth role today and the future - London - essay

1020 words - 5 pages COMMONWEALTH PRESENTATION Contemporary Britain (book) British attempts to enter Europe since the 1950s have tended to militate against the traditional familial and trading importance to Britain of the Commonwealth. But the continuing role of the Commonwealth is a debated aspect of Britain´s international standing. The labour government apparently feels that the Commonwealth is a success and is commited to raising its profile. Significantly, a

Classroom Struggle: School's Out For Peace, Unity And Social Justice (Article Published In The Sydney Morning Herald)

793 words - 4 pages Free movement."The walkouts were likened to the mass moratoria against the Vietnam War in the '60s and '70s during a period of mass youth radicalisation.In short, the protest was an empowering celebration of unity in the face of international warmongering and a climate of increasing fear and hatred.It is becoming clearer and clearer that the vast majority of young people don't support this war. But the demonstrations on March 5 were only the tip of