Geography Development

Topics: World Trade Organization, Economic development, Poverty Pages: 2 (741 words) Published: January 29, 2015

Question: Evaluate the role of different global organisations in narrowing the Development gap (15). The role of global organisations , which are organisations set up by many countries as an IGO or there may be individual groups set up to try and narrow the development gap, however how successful these organisations are in trying to narrow the development is still under question. An example of how an IGO may play a key role in trying to narrow the ever widening development gap Is the role of the world trade organisation and its role in trying to promote free trade. The world trade organisation may play a key role in narrowing the development gap as it promotes economic co-operation between countries allowing there to be cuts in tariffs that hinder free trade allowing developing countries to import and export goods to fuel a nation’s economic development and because of this there has been a notable GDP growth in many parts of the world. However, how effective the WTO role in narrowing the development may come under scrutiny. Some suggest that allowing for free trade may see the poor get poorer as the wealthier nations may exploit free trade regulations. Moreover, the role of the World Bank in trying to narrow the development gap may be essential. To date the World Bank has funded over 4000 development projects in 130 countries. Also for the poorest nations loans are interest free and allow long repayments periods allowing nations that are trying to develop, develop sustainably, increasing economically and therefore helping reduce the development gap. However this is often not seen to be the case for countries who have received loans from the World Bank as most loans are at market interest rates. Due to this being the case countries cannot pay off the debt and are often forced to privatise and decrease spending in public sector, for example in Bolivia where they were forced to privatise the water in Cochabamba increasing cost of water in order to help with the...
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