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globalisation and its discontents-bbc report. This was the year that globalisation
ceased to be an academic issue and took to the streets. ...
Submitted by promise on August 12, 2007
Category: Social Issues
Words: 913 | Pages: 4
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This was the year that globalisation ceased to be an academic issue and took to the streets.
The mass anti-globalisation demonstrations - which began in Seattle at the end of 1999 but intensifed at the meetings of the IMF and World Bank in Washington and Prague - reflected a growing disquiet over who was benefiting from the increasing integration of the world economy.
Demonstrators in Washington form a human chain
Activists surround Congress in Washington
Global leaders, from Bill Clinton to Horst Köhler, head of the International Monetary Fund (IMF), rushed to defend the benefits of global integration - but also acknowledged that the poor needed to be incorporated in the process.
But in practical terms, the momentum for global integration - particularly in relation to trade talks - had been slowed.
There was little enthusiasm for trying to restart a new global trade round after the fiasco of Seattle, and activitists were already organising against further more limited talks about liberalising trade in services.
Arguments about the poor
Even the World Bank and the IMF began to change their tune, acknowledging that the slowdown in economic growth in developing countries, especially in Africa, had meant that world poverty was little changed over the last decade outside of East Asia.
Campaigns grew against child labour
And the World Bank published a remarkable report outlining just how big the costs of adjustment to capitalism had been for the former Soviet Union, with poverty rates rising ten-fold to around one in five of the population of Russia in the last ten years.
The IMF and the World Bank renamed their programmes they agreed with poor countries "Poverty Reduction and Growth Strategies", but critics claimed they were little different from the previous version, called Structural Adjustment Programmes, which led to...
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