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Globalization-Process that involves exchange in economics, politics, technology, cultures, and legal dimensions across bordersWashington Consensus-Represents the foreign policy view of the US and its allies-An approach that recommends privatization as the path to economic success and integration into the global market by bringing down state market regulations-Brings into play the hidden hand which is the idea that the market regulates itself and if you give it space by removing constraints, and will achieve equilibrium in which successful industries will rise and those who were never meant to succeed will fail 3 Views on GlobalizationNeoliberal View-Economic globalization, positive for humanity-Similar to modernization theory -Triumph of free market capitalismoObtain wealth and decline of poverty, democracy-Continuity with Rostow’s “take-off”oEconomic. Agricultural development-Taiwan: developed because they embraced global capitalismoNeed to have capitalism first Radical View-Marxist tradition influence-Core vs. periphery oUneven power relations oGlobalization is a way to exploit the weak-Marx idea of exploitation/alienation is used oBoss exploits workeroWorker makes product for someone elseRadical view sees the world in this term-Globalization is more than economicsoRefugee regulation, Mexico’s wall, Muslim ban anti-globalizationIrony: made by those who advocate for the movement of goodsand capital -Globalization = New ImperialismNew Globalism-Changing power relations, division of labour oCompetition for cheap labour, business for companies-Global integration as opportunity -Shift in power relations-Developing countries as competitors -States are important actors, focus on classes of individuals rather than countries
Foreign Aid (defining + motivations for)-International transfer of public funds in the form of loans or grants either directly from one government to another (bilateral assistance) or indirectly through the vehicle of multilateral assistance agencies such as the WB-Moral motivesoReparation of past wrongsWestern society built on the back of colonialism, slavery and violence. There is a duty on Western governments to repay their debt to the developing world.oEgalitarian motivesDevelopment aid should be the equalizing factor between the discrepancies in opportunity/living conditions in the worldoInternational solidarityIdea of the state as providing welfareMoving beyond borders to help others -Mutual interestsoInterdependenceTrade, exchange etc. = everyone benefits from developmentoGlobal environmental problemsPopulation growth, environmental degradation affects us all Sustainable development, fostered through development aid, is good for everyoneoAvoiding international conflicts Gap between the rich and poor may lead to conflictInequality in GDP/capital is a prime predictor of international waroIncreasing GDP, developing country leads to peaceCategories of Development Aid-