Essay #6

Essay #6 - Sill Essay#6 1 William Sill Essay#6 29 November...

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Sill Essay #6 1 William Sill Essay #6 29 November 2007 World Bank vs. India The World Bank is a multi-governmental owned institution set up to aid developing countries making countries more globally unified. Globalization is the act of bringing together countries worldwide to have a sound relationship of equality amongst everybody. The World Bank has contributed to globalization immensely throughout its existence. The World Bank interaction with foreign governments has led to an increased knowledge provoking social movements to rise and indirectly causing people of the world to think for themselves and become more independent. Unfortunately, like most things, it has a negative aspect. The World Bank does not follow its own policies, and often puts countries in the same condition they were in before or worse. India has been greatly impacted by the Bank’s carelessness, and in response tribunals and movements such as the Narmada were formed. In India, the World Bank continues to globalize, and it has made drastic effects provoking social movements, but tends to disregard policies at the cost of human rights. The Word Bank was started to do one thing, and is still alive today performing somewhat similar roles. According to the Bank Information Center, at its birth, the World Bank’s job was to rebuild specific countries due to war devastation, but has
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Sill Essay #6 2 continued to give aid to poor countries in efforts of globalizing the world. The World Bank is owned by 185-member government (13). The Bank has tried many different strategies in order to help developing countries become more global, yet even as a sophisticated institution, it has not lived up to its own set standards. The World Bank’s main goal is to contribute to globalization; it is set up to help globalize all countries that are members by providing aid. Reports released by Guttal tell differently. Findings report that 70 percent of the Bank’s non-grant lending was supplied to only 11 countries. This left about 145 countries to fight for the other 30 percent (1). The Bank is also selective in whom it gives resources to in order to make them look better. Records show that 80 percent of the Banks resources do not go to the poorest countries, but the better off ones that have good credit ratings so the Bank could put more funds in their international capital markets (Guttal 1). With this substantial amount of evidence, it was found that the Bank’s attempt to alleviate poverty was a complete failure. The malpractice does not stop there. Under its former president of Wolfowitz, the Bank has secretly accepted false statistics from the Suharto regime in Indonesia, and for the last 30 years provided them over 30 billion dollars. The Bank is not using globalization to its advantage, and in turn, making the supposed beneficiaries suffer (Bello 1). Their actions have caused many social movements to create to fight against what the World Bank does. In India, there are huge social movements that have been created as a result of the
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This note was uploaded on 02/24/2008 for the course CRP 109 taught by Professor Driskell,david during the Fall '07 term at Cornell.

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Essay #6 - Sill Essay#6 1 William Sill Essay#6 29 November...

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