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Essay / Research Paper Abstract
A 4 page contention that the impacts of globalization have exacerbated inequality in developed and developing countries. The International Money Fund has done little to address these problems. Bibliography lists 5 sources.
Page Count:
4 pages (~225 words per page)
File: AM2_PPglblIMF.rtf
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Unformatted sample text from the term paper:
of globalization. These impacts are complex and highly debated. Even well-meaning political interventions such as the International Monetary Fund (IMF) can have mixed impacts, impacts that some hold
on a pedestal while others vehemently condemn them. This is not surprising given the lack of a common consensus in terms of world affairs. Indeed, even coming to a
commonly accepted definition of globalization is difficult. Foreign Policy (2001, 56) contends that "there seems to be a consensus that globalization
is defined by increasing levels of interdependence over vast distances". Sen (2000) recognizes that globalization entails the introduction of ideas and practices that are not always homogenous to the
traditions and lifeways of other countries. Critics have contended that globalization also goes hand in hand with the loss of individual identity. This loss occurs not just on
a state level but also on a personal level and, by many accounts, individuals in third world countries endure the greatest losses. The International Monetary Fund in particular is
blamed for a number of these losses. The hypothesis can be presented, in fact, that the liberalist policies of the International Monetary Fund have exacerbated inequality in developed and
developing countries. The IMF oversees the international monetary system and encourages orderly exchange relations among its members by promoting exchange stability. Member
countries are required to contribute to the financial resources of the IMF and these resources go to aid those countries in need. In theory, the IMF serves as a
protective buffer for its member countries in that it steps in with short-term to medium term credits when those countries experience payment difficulties. In actuality, many contend that the
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