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PDF document-894BAA8B122A-1
PDF document-894BAA8B122A-1
AND DEVELOPMENT
OBJECTIVES
► DESCRIBE THE FACILITATORS OF GLOBALISATION AND DEVELOPMENT:
► Economic Partnership Agreements (EPAs) are trade and development agreements negotiated
between the EU (European Union) and African, Caribbean and Pacific (ACP) countries and
regions.
► Major aim is to create a free trade area (FTA) in response to the WTO rejection of the
protectionist ACP-Lome agreement.
► The EU’s trade relationship with ACP countries is governed by the Cotonou Partnership
Agreement signed in 2000 between the EU, its member states and ACP countries. As this
comprehensive political, economic and development partnership is expiring in 2020, the parties
are currently negotiating a successor agreement (the so-called ‘post-Cotonou’ agreement).
What is the impact of the EPA on the Caribbean?
What was the Lome convention? (page 271 of Jennifer Mohammed text)
International Monetary Fund (IMF)
The IMF was born at the end of World War II, out of the Bretton Woods Conference in 1945. It was
created out of a need to prevent economic crises like the Great Depression. With its sister organization,
the World Bank, the IMF is the largest public lender of funds in the world. It is a specialized agency of
the United Nations and is run by its 188 member countries. Membership is open to any country that
conducts foreign policy and accepts the organization's statutes, which include Structural Adjustment
Policies (SAPs). Loans are short term and usually have to be paid back within 5 years.
What are SAPs that the IMF impose on countries?
What impact has the IMF had on the Caribbean? Examples
THE WORLD BANK
► https://www.youtube.com/watch?v=MhrC2_Hak08
► https://www.youtube.com/watch?v=WG72yk60tbA
► https://www.youtube.com/watch?v=lN3qrFA4jXc
► The World Bank supplies qualifying governments with low-interest loans, zero-interest credits, and
grants, all for the purpose of supporting the development of individual economies. Debt borrowings
and cash infusions help with global education, healthcare, public administration, infrastructure, and
private-sector development. The World Bank also shares information with various entities through
policy advice, research and analysis, and technical assistance. It offers advice and training for both the
public and private sectors.
► What impact has the World Bank had on the Caribbean?
FACILITATORS OF GLOBALISATION
AND DEVELOPMENT
► Transnational Organizations
► Technology
► Ideologies: social, gender, economic, political
TECHNOLOGY
► Technology:
► This refers to the set of tools both hardware and software, that helps us act
and think better. Technology includes all objects from paper to the latest
gadgets. Electronic and computer technology help us share information or
knowledge quicker and efficiently thus speeding up the globalization
process making the world a smaller place. For example advancements in
internet technology: satellite, cable, and fiber optic revolutionized
communication.
► What impact does technology have on globalization in the Caribbean?
Transnational Organizations (TNCs) OR
Multinational Corporations (MNCs)
► These are often referred to as multinational organization or companies and are
characterized by having :a headquarters in one country and subsidiaries or
branches in many other countries. Most of the big companies in the Caribbean
are international transnational organizations with headquarters in North
American and European territories. These companies facilitate globalization in
the diverse countries they service.
Transnational Organizations (TNCs) OR
Multinational Corporations (MNCs)
► However, a major disadvantage of this type of organization is that most of
its profits are repatriated away from developing countries to developed
economies. However, many local economies don't have the capital/money
to develop their industries and raw materials, thus TNCs facilitate this
process. Additionally, critical employment and downstream and upstream
business opportunities are created by the participation of TNCs in critical
sectors of the economy.
► What impact does TNCs have on the Caribbean? What are some examples
of TNCs? What is Foreign Direct Investment?
Ideologies: Social, Gender, Economic and
Political
► An ideology is a set of ideas, doctrines or beliefs which forms the basis about
how someone or a group thinks. These ideologies foster globalization by
linking people across national and regional boundaries.