Comm 101 Life and Debt

Comm 101 Life and Debt - field for all competitors The...

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Life and Debt The International Monetary Fund is said to have major impacts on the economy and political system of Jamaica The International Monetary Fund is a bank for the short term borrowing of money for countries and a system to stabilize world currency Criticism: Only for short term and have harsh interest rates The World Bank is criticized for giving tariff-free trade with European Nations adversely affected Jamaica’s banana exports Globalization: the allowance of completely unregulated trade between countries allowing a level playing
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Unformatted text preview: field for all competitors The Jamaican Economy: Dairy and Agricultural trade decreased while factories and foreign countries movied in for the cheap labor and new market Poverty and unemployment have soared and people are forced to work for foreign companies in factories Free Trade Zone: a zone without trade laws or health standards Products in Jamaica as result of free trade: Bananas, powdered milk...
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