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Global Economic Governance (Politics A-level): Key organisations

For each organisation you need to be able to:

  • Describe the origins and features of the organisation.
  • Balance its strengths and successes against...
  • ...the pressures for reform and criticisms
  • ...by referring to evidence from case studies
  • Allowing you to critically evaluate the success of the organisation.

Read the articles below, using one summary sheet per organisation to organise your ideas as you read.

IMF

IMF: Origins and features

The following article provides a background to the IMF as well as a discussion of both strengths and criticisms and can be used, alongside your textbook for a general overview of the IMF.

Article: Master, J. & Chaztky, A. (2020, August 20) The IMF: The World’s Controversial Financial Firefighter. Retrieved from Council on Foreign Relations:https://www.cfr.org/backgrounder/imf-worlds-controversial-financial-firefighter

 

The Council on Foreign Relations is a "nonprofit, publisher, and think tank specializing in U.S. foreign policy and international affairs" described as a LEAST BIASED source, rated HIGH for factual reporting (03/21).

IMF: Strengths and successes

Use your textbook to explore:

  • Case study: Brazil/South Korea: SAPS reformed as Poverty Reduction papers (PRs)

 

Use the article below to explore:

  • Case study: How debt relief is now being encouraged

Article: IMF, World Bank urged to cancel poor nations' debts. (2020, May 13) Retrieved from Al Jazeera: https://www.aljazeera.com/economy/2020/5/13/imf-world-bank-urged-to-cancel-poor-nations-debts

 

Al Jazeera is a LEFT-CENTRE source, rated MIXED for factual reporting (03/21)

IMF: Pressures for reform and criticisms

Use your textbook to explore:

  • USA voting power quota
  • Always led by a European President

Use the articles below to explore Structural Adjustment Programmes (Austerity programmes) SAPs in the following contexts:

  • Case study: Greece AUSTERITY + SOVEREIGNTY
  • Case study: Argentina

Video and article: Greece emerges from Eurozone bailout programme. (2018, August 20) Retrieved from BBC News: https://www.bbc.co.uk/news/business-45243088

 

 

The BBC is a LEFT-CENTRE source, rated HIGH for factual reporting (03/21)

Video: Quinn, B. (2019, August 29) Argentinians protest austerity as government seeks debt restructuring. Retrieved from BBC News: https://www.france24.com/en/20190829-business-argentina-imf-debt-restructuring-protests-austerity-apple-siri-privacy-lapse

 

France24 is a LEAST-BIASED source, rated HIGH for factual reporting (03/21)

World Bank

World Bank: Origins and features

 

Use your textbook to explore the origins and features of the World Bank.

World Bank: Strengths and successes

Use your textbook to explore:

  • “Knowledge Bank” as well as a Money Bank – funds education, gender equality, fighting disease like AIDS and COVID-19

Use the articles below to explore:

  • Case study: Funding to fight COVID-19
  • Case study: Funding for climate action

Article: Coronavirus: World Bank pledges $12bn in emergency aid. (2020, March 4) Retrieved from BBC News: https://www.bbc.co.uk/news/business-51728766

 

The BBC is a LEFT-CENTRE source, rated HIGH for factual reporting (03/21)

Article and Video: World Bank Group Announces $200 billion over Five Years for Climate Action. (2018, December 3) Retrieved from The World Bank: https://www.worldbank.org/en/news/press-release/2018/12/03/world-bank-group-announces-200-billion-over-five-years-for-climate-action 

 

This is a Press Release from the World Bank about its own work. The World Bank is an internationally respected organisation so it is likely to be factually correct but will be biased towards presenting the World Bank in a good light.

World Bank: Pressures for reform and criticisms

Use your textbook to explore:

  • Case study: Tanzania: WB encouraging privatization of water supply 

 

Use the articles below to explore:

  • Case study: Lagos: Environmental damage caused by loans
  • Case study: China receives World Bank loans – despite being the world’s second largest economy!
  • World Bank President always from the USA

Article: Steffen, S. (2015, April 16) World Bank failed to protect the poor, research shows. Retrieved from DW (Deutsche Welle):https://www.dw.com/en/world-bank-failed-to-protect-the-poor-research-shows/a-18388491

 

DW News (Deutsche Welle) is a LEFT-CENTRE source, rated HIGH for factual reporting (04/21)

Article: World Bank gives China billions in loans despite US objections (2019, December 6). Retrieved from Al Jazeera:https://www.aljazeera.com/economy/2019/12/6/world-bank-gives-china-billions-in-loans-despite-us-objections

 

Al Jazeera is a LEFT-CENTRE source, rated MIXED for factual reporting (03/21)

Article: Controversial Trump pick gets World Bank top job . (2019, April 5) Retrieved from BBC News:https://www.bbc.co.uk/news/business-47832806

 

 

The BBC is a LEFT-CENTRE source, rated HIGH for factual reporting (03/21)

World Trade Organisation

World Trade Organisation: Origins and features

 

Use your textbook to explore the origins and features of the World Trade Organisation.

World Trade Organisation: Strengths and successes

Use your textbook to explore:

  • Membership: 75% of member states are Developing States

Use the articles below to explore:

  • Case study: Bali conference 2013 – trade deal to boost trade across borders in LEDCs
  • The WTO provides a system for resolving disputes, when a country alleges that another has violated WTO rules… Case study: Boeing USA v Airbus EU state subsidies dispute

Video: WTO agrees global trade deal worth $1tn. (2013, December 7) Retrieved from BBC News: https://www.bbc.co.uk/news/av/business-25278546

 

The BBC is a LEFT-CENTRE source, rated HIGH for factual reporting (03/21)

Article: EU paid Airbus billions in illegal subsidies, WTO rules. (2018, May 15) Retrieved from BBC News:https://www.bbc.co.uk/news/business-44120525

 

The BBC is a LEFT-CENTRE source, rated HIGH for factual reporting (03/21)

World Trade Organisation: Pressures for reform and criticisms

Use your textbook to explore:

  • Case study: Has failed to stop EU/USA/Canada Protectionism (Agricultural industry) – Doha Round since 2001

 

Use the articles below to explore:

  • Case study: Failure to prevent USA-China trade war
  • Case study: Many anti-globalisation protests at WTO over the years – “Battle of Seattle 1999”

Article and Video: Ahmed, K. (2018, July 4). Global economy 'under threat as tariff war bites'. Retrieved from BBC News:https://www.bbc.co.uk/news/business-44711257

 

The BBC is a LEFT-CENTRE source, rated HIGH for factual reporting (03/21)

 

Video: The Economist (2019, November 14). America v China: why the trade war won't end soon. Retrieved from YouTube:https://www.youtube.com/watch?v=ErwIlvQ_RVk

 

The Economist is a LEAST BIASED source, rated HIGH for factual reporting (03/21)

Article: James, D. (2019, November 3). The WTO 20 years after the ‘battle of Seattle’ Retrieved from Al Jazeera:https://www.aljazeera.com/opinions/2019/11/30/the-wto-20-years-after-the-battle-of-seattle

 

Al Jazeera is a LEFT-CENTRE source, rated MIXED for factual reporting (03/21)

G7/ G8/ G20

G7/ G8/ G20: Origins and features

 

Use your textbook to explore the origins and features of the G7, G8 and G20, and use the article below to explore the G20 further.

Article: McBride, J. & Chaztky, A. (2019, JUne 10) The Group of Twenty. Retrieved from Council on Foreign Relations:https://www.cfr.org/backgrounder/group-twenty

 

The Council on Foreign Relations is a "nonprofit, publisher, and think tank specializing in U.S. foreign policy and international affairs" described as a LEAST BIASED source, rated HIGH for factual reporting (03/21).

G7/ G8/ G20: Strengths and successes

Use your textbook to explore:

Use the articles below to explore:

  • Case study: ...and G20 has injected trillions of dollars again into global economy to fight coronavirus
  • Case study: G8 2005 Gleneagles – cancelled debt to many African countries

Article: Kalin, S. & Lawder, D. (2020, March 26) G20 leaders to inject $5 trillion into global economy in fight against coronavirus. Retrieved from Reuters News:https://www.reuters.com/article/us-health-coronavirus-g20-saudi-idUSKBN21D0XL

 

Reuters is a LEAST BIASED source, rated VERY HIGH for factual reporting (03/21)

Article: Did Live 8 and G8 help cut Africa's debt burden? (2015, July 10) Retrieved from BBC News:https://www.bbc.co.uk/news/business-33388990

 

The BBC is a LEFT-CENTRE source, rated HIGH for factual reporting (03/21)

G7/ G8/ G20: Pressures for reform and criticisms

Use your textbook to explore:

  • Non-binding decisions

Use the article below to explore:

  • Case study: Russia issue … should they be readmitted as G7 members (Trump thinks so)?
  • Case study: G20 anti-globalisation protests

 

Article: Stewart, P. M. (2020, June 8) Expanding the G7 makes sense. Including Russia does not. Retrieved from World Politics Review:https://www.worldpoliticsreview.com/articles/28821/expanding-the-g-7-makes-sense-including-russia-does-not

 

World Politics Review is a LEFT-CENTRE source, rated HIGH for factual reporting (04/21)

 

Article: G20 in Hamburg: Who are the protesters? (2017, July 7). Retrieved from BBC News:https://www.bbc.co.uk/news/world-europe-40534768

 

 

The BBC is a LEFT-CENTRE source, rated HIGH for factual reporting (03/21)

Key organisations summary sheet

Use this document to organise your ideas. Use one sheet per organisation. If you choose to print it and fill it in by hand you might want to consider printing on A3.

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