DEVS 230 Lecture Notes - Lecture 4: U.S. Bancorp, Offshore Bank, Bretton Woods System
8 Dec 2017
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Democratic de cit (ie power is focused in the west) Imf: international monetary fund: short term loans to governments. Wb: world bank: focus on development of countries" infrastructure. A development strategy that aims to foster industrialization through the substitution of imports. Goal: create a modern industry sector that would serve the domestic market: self-suf ciency for all industrial goods, creates a virtuous circle of industrialization and domestic market growth = modernity. The state plays the role as the catalyst. Shelter emerging industry from foreign competition through tariffs and quotas. Help create and subsidies an urban0industrial workforce: recycle money from exports to pay for this. The nance industrialization: states appropriated revenues from agricultural/ raw material exports, diverted them towns the industrialized quest, borrowed money. Wednesday, october 5, 2016: overvaluation of currency. But also made the products less competitive. The state by implementing tariffs and quotas: tariff- a tax on goods entering the country.
