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Essay / Research Paper Abstract
This 10 page paper examines the impact of globalisation on debt in underdeveloped countries. The writer also considers the role of the World Bank and the International Monetary Fund and the feeble attempt at debt relief through the Heavily Indebted Poor Countries Debt Initiative (HIPC). The writer looks specifically at Sub-Sahara Africa and its potential future. The bibliography cites 9 sources.
Page Count:
10 pages (~225 words per page)
File: TS14_TEdebtgl.rtf
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Unformatted sample text from the term paper:
and how increased trade agreement and international arrangements have increased the free flow of capital. The poorer nations have many problems. Underdevelopment has resulted in poverty and many related
social problems,. Globalisation was seen as a tool that could be used by these countries to improve their conditions. However, as we look at these potential benefits it is very
apparent that they require capital to operate. Where this occurs by borrowing rather than investment there will be a need to repay the loans, and it is here that we
see the problems arise. Poverty is a very large problems in the developing world. The prospect of globalisation has been heralded by many
as a potential revolution that could be used to improve social development and economic development prospect throughout the world (Africa News Service, 1999). It can be seen that with all
the different changes, such as trading blocks and reducing tariffs, that international trade is becoming a simpler process, and more accessible to all the worlds nations(Africa News Service, 1999).. It
has been stated, by Joseph Stiglitz, a chief economist, that "Globalisation is like a giant wave, that can either capsize or carry them forward" (Africa News Service, 1999). This
acts as a timely reminder that were there is opportunity there is also risk. Globalisation is all very well, but morally
it should be able not only to increase profits but enrich the nations in which the trade occurs (Africa News Service, 1999).. Globalisation requires a measure of free trade environmental
factors to occur, these mean that deregulation and free capital movements will increasingly need to be facilitated (Africa News Service, 1999). With careful handling this free flow of capital and
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