POL 3115 Lecture Notes - International Monetary Fund, Beijing Consensus, Washington Consensus

• School: University of Ottawa
• Department: Political Science
• Course: POL 3115
• Professor: Modeste Mba Talla

Document Summary

1- washington consensus everything based on the chinese way of doing things. 4- lower interest in beijing consensus than washington consensus. 5- the chinese are always ready to adapt or immigrate. Post-washington consensus; debt crisis and relief; democracy and development. Spending large amounts of money on unnecessary things. In latin america, in particular, investment levels were very high between 1975 and 1982 [an average of 24% of gross domestic product (gdp) higher than before. 1975 and after 1982]: the imbalance created by overwhelming levels of debt causes countries to adopt short term policies, designed to meet the next payment of interest or principal, or to sustain positions in rescheduling negotiations. The volume of world bank leans in particular few rapidly during the 1970s. A) they introduced tight monetary policies causing interest rates to shoot up. B) this led to a world-wide recession.