With $78 trillion in total GDP, the global economy is far beyond vast. ... Meanwhile, the population of developing economies has continued to grow, especially in Africa and India. ... The growth of financial markets continues to increase the huge income disparities throughout the world. In the article entitled, "The World is Spiky," Richard Florida argues against the flat world theory and asserts that certain countries have far outpaced others with regard to growth, creating the "spikes" on the global topography. ... As we have discussed in class, less than 1% of the worl...

• Word Count: 711
• Approx Pages: 3
• Grade Level: Undergraduate

The IBRD was created in 1946 for two purposes: the reconstruction of Europe after WWII and for investment in the developing world. ... The International Development Association was established in 1960 to assist the world's poorest countries. ... All of the World Bank's projects go through an established cycle: 1. ... In general, this philosophy had only partial results because no spill over effect from the projects to the country's economy. ... Personally I think that James Wolfensohn will change the World Bank. ...

• Word Count: 1195
• Approx Pages: 5
• Grade Level: High School

Therefore there is a significant need to reduce this poverty around the world before it is too late. ... The government's inefficiency and incompetence can also lead to heavy, unsettled debts that bring the nation's already weak economy to a standstill. ... These countries should maintain the momentum of the Heavily Indebted Poor Countries (HIPC) Initiative - under which the IMF, the World Bank and the industrialised countries -the "loan sharks"- act together to reduce the debt to manageable levels. ... In conclusion, all these solutions to the problem of poverty in the world can onl...

• Word Count: 559
• Approx Pages: 2
• Grade Level: Undergraduate

Rapid growth in China and India explains why more than half of the world's population lives in economies growing faster than 2 percent a year. In 1978 the economical structure of China began moving from a slow Soviet type economy to more of a market oriented system. ... In 2002, with its 1.28 billion people but a GNP of about $4,600 per capita, China was recognized as the second largest economy in the world behind the US. ... Access to the World Trade Organization strengthens China's ability to maintain sturdy growth rates, and at the same time puts additional pressure on th...

• Word Count: 648
• Approx Pages: 3
• Grade Level: Undergraduate

Under the chairmanship of former West German Chancellor Willy Brandt, the Independent Commission on International Development Issues examined the problems facing the global economy in the early 1980s. Brandt's panel of former world leaders and other prominent figures found that developing nations were economically dependent on developed nations, which dominated the international rules and institutions for trade, money, and finance. This economic division resulted in political instability, not just in poor nations, but across the world. ... The Brandt Reports also sought solutions to oth...

• Word Count: 366
• Approx Pages: 1
• Grade Level: Graduate

According to the World-Systems Theory, the nations of the world are classified into Core, Semi-Periphery, and Periphery countries. ... According to another underlying theory of World-Systems Theory, the Dependency Theory, resources stream from the underdeveloped states (Periphery Countries) to the developed states (Core Countries). ... Increased Demand for Resources Most resource-abundant countries rely on their natural resources to boost their economy. ... This has several implications for the resource-abundant economies. ... This has advantages like interdependence among nations to boost eac...

• Word Count: 846
• Approx Pages: 3
• Grade Level: Undergraduate

And Schall,J.V ) In Fernald's essay "The Fall And Raise Of The Global Economy", the author argues that trade liberalization makes nations more prosperous. ... This paper aims to evaluate his arguments that "reducing tariffs, export subsidies and eliminating quotas increases global income and that openness to the world makes us more prosperous." ... Mahattir Bin Mohamad (2002) also argues that the global foundations like IMF ( International Monetary Fund ), World Bank, WTO work for their richer countries to control the other countries. ... Also at British Museum on November 16, 2000...

• Word Count: 751
• Approx Pages: 3
• Has Bibliography
• Grade Level: Undergraduate

An underdeveloped Economy is general foreign aid oriented. ... Many countries which took loans from IMF and the World Bank are unable to repay back their loans and find themselves caught up in the vicious circle of poverty. ...

• Word Count: 872
• Approx Pages: 3
• Grade Level: Undergraduate