GEOG 1001 Chapter : Life And Debt Economic Geography Of The Caribbean
Document Summary
Turned to neoliberal policies and the international monetary fund and world bank in late 70s. Limited options to enhance economic development: michael manley. International monetary fund (imf) a financial institution funded by developed nations to help developing countries: reorganize, formalize, develop their economies. World bank is a global lending institution makes loans to countries need money to pay for development projects. In order to get loans governments had to : liberalize trade, privatize, cut social programs, education, health care, devalue currencies. Documentary presents a collection of sequences that highlight different effects of global neoliberal economic policies, especially the reduction of trade barriers, on current everyday realities of jamaican residents. Sequences 1 and 2: effects of free market policies on local agriculture and agriculture industry, dairies specifically: u. s. brought this to the wto 105,000 tons of bananas to england with no tax because it"s unfair . Sequence 3: the banana wars, the demise of jamaica"s banana export industry.
