Global Economic Discrimination
An increasing number of economists and international commerce theorists have suggested that economic discrimination goes far beyond the bounds of individuals or businesses. The largest scale forms of economic discrimination, and the widest ranging, affect entire nations or global regions. Many consider that an open world economic system (globalization), which includes world bodies such as the International Monetary Fund (IMF), World Bank, and International Bank for Reconstruction and Development (IBRD), places countries at risk by practicing explicitly discriminatory techniques such as bilateral and regional bargaining, as well as asymmetrical trade balances and the maintaining of cheap force labor. Trade policies like the North American Free Trade Agreement (NAFTA) and General Agreement on Tariffs and Trade (GATT) are often regarded as financial measures serving only to economically oppress third world nations.
This could include:
- Unfavorable terms for monetary support from world banking institutions
- Coercive diplomacy to supplant local, regional or national leaders in favor of those who will act as demanded by foreign investors
- Increased prices for suppling basic medical supplies to nations based on ethnic or religious basis
- Refusal of trade agreements
- Restrictive trade agreements
Read more about this topic: Economic Discrimination
Famous quotes containing the words global and/or economic:
“The Sage of Toronto ... spent several decades marveling at the numerous freedoms created by a “global village” instantly and effortlessly accessible to all. Villages, unlike towns, have always been ruled by conformism, isolation, petty surveillance, boredom and repetitive malicious gossip about the same families. Which is a precise enough description of the global spectacle’s present vulgarity.”
—Guy Debord (b. 1931)
“The bourgeois takes economic power very seriously, and often worships it quite unselfishly.”
—Nicolai A. Berdyaev (1874–1948)