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Question 8: ProsperityWhat should Canada do to help make the benefits of globalization more widely
shared within and among all countries? |
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| Contributor: | AndrewB |
| Date: |
2003-05-01 11:30:37 |
| Answer: |
The current behaviour and practices of the WTO, IMF and World Bank is in complete contradiction to the ideals these organizations promote. Despite the rhetoric, these Bretton Woods institutions do not allow developing countries a chance to stand on their own "two legs". These institutions commonly exert double standard practices, holding countries loaned money to guidelines not followed by those lending the money. Many nations in Africa are currently paying out more in annual interest payments to these institutions than they are receiving in global foreign aid. These institutions have been coopted to benefit large corporate conglomerates.
A major step for Canada would be to vocalize the disparity present in these institutions and demand reform or threaten withdrawal. If reform can not happen within the current institutions (and with the United States as a dominating force I believe there is right for reservation) than new, FAIR trade organizations could be adopted. |
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