A Hostile World
The following is an excerpt from A Hostile World – Tampa Bay Political Buzz | Examiner.com
There are three major factors that continue to undermine the economic structure of the world today; 1. The World Bank and the International Monetary Fund, 2. The World Trade Organization, and 3. The North Atlantic Free Trade Agreement. All three though well intended when first implemented have become very ineffective due to the continued unrest of societies all over the globe. The failure to adapt to ever evolving contingencies has undermined the stability of economies. Greece is still a vestige of economic plight even after all the monumental bail-outs. Some would say the the United States is like Greece in the aftermath of governmental bail-outs to the very same financial institutions that caused the most notorious financial disaster of our time. For all the billions of dollars that put Americas debt even further in the hole the economy is still in crisis mode. When factored in the gas crunch like 4 years ago only compounds the the financial dilemma facing millions of Americas.
The World Bank and The International Monetary Fund are the biggest financial lenders in the world today, the problem is they are also the biggest loan sharks. They have continually kept poorer countries impoverished while at the same time they keep helping multinational corporations exploit nations natural resources particularly in Africa. This does nothing to ease the vast suffering of people all over the world and further diminishes the prospect for further economic growth and nations stability. What is needed is for the World Bank and the International Monetary fund to work together with the United Nations in setting up loan programs for countries that need the tools and resources to successfully stabilize and grow their economic structure. These loans could be micro or full loans used for education, infrastructure development, and technology implementation.
The World Trade Organization was set up to foster economic growth between all nations, but since the world is still plagued with turbulent and intensifying crisis the prospect for economic growth appears grim. Like the WTO the North Atlantic Free Trade Agreement has done just the opposite of what it was intended to accomplish. It has left the agriculture industry with monumental job losses, made life saving medicines unaffordable for people in poorer countries, and lowered health, safety and environmental standards everywhere. Negotiations have already taken place to expand NAFTA by creating trade zones from Argentina to Alaska. This allows NAFTA the ability to give corporations rights to reduce natural resources in Mexico, Canada, and even in the United States. All resulting in further loss of jobs and reduction of environmental and health standards everywhere.
A key player on the international scene is China. Back in 1990 China’s government implemented policies that enabled them to become the least expensive most proficient manufacturing country in the world. Today, they have succeeded. One of the biggest problems though in China is that the divisions between the prosperous cities and the long stagnant economic deprived rural areas threaten the long term stability and growth of China. This in turn results that the rest of the worlds economic stability still remains in serious jeopardy.
From 1993 – 2008 the United States alone lost more than 3 million jobs due to the North Atlantic Free Trade Agreement. The rising United States trade deficit has cost more than 4 million actual and potential jobs since 1994. The US trade deficit with China alone is over $200 Billion and counting. Still in China workers continue to be denied basic workers rights. The plight of Chinese workers at some of their manufacturing facilities like Foxcon underscores some of the harsh realities that so many in China face. As a result in China even with all their manufacturing capabilities lies an economic catastrophe that is taking shape today. If changes are not made soon the global economic outlook remains bleak.