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Open rule based non-discriminatory pridictable trading and financial system is chimera?
Mahi430
An open rule based non discriminatory global trading and financial is chimera?
Today the international institutions such as World Bank, IMF and WTO are playing very greedily to serve the self interest. Every meeting of world bank ,IMF and WTO has become a scene of turmoil and conflict.
Then what do u think of the global trade ….when the team is pressurized then how can it win the game no way ….As the above international institutions are fully controlled by US. As US contribute 26% of usable resources to IMF. And also having the maximum voting right as the voting rights are also given as per quota contributed by a country.
Ever the most conservative politicians such as France's president Jacques Chirac has argued that the globalization is not doing good for the nations who are in much need of promised benefits.
What happen when Canada complained to WTO about the fiancés ban of asbestos .neither the victim`s view were discussed in the WTO nor they were made the part of any debate.
Today 3 billion people in the world , live only at $2 per day..If this is what the globalization and these financial institutions are giving us then we really don't need the globalization.
What happened in East Asia crisis the deal of capital account liberalization was imposed on those countries even they don't need it..
Why these international institutions such as IMF have even does not recognize any right of the citizen to check for the working of these institutions. Why these institutions have no accountability….
At last the only thing I would say that "the problem is not that the people doesnot know anything but the problem is that what the people know is not true." (July 2008)
Komal Gaba--
contact:- mr.komalgaba@yahoo.com
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∙ 13y ago
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