Wednesday, February 11, 2026

Chapter 22, 27, 33

 To me, chapter 22 mainly speaks about how influential America is to the world. America plays a big part in the world's collective knowledge of medicine, science, technology, entertainment, and finances. America may not interfere with the world's problems directly, they still have the ability to make powerful global decisions. Because America is so powerful and present in global operations, they can easily take another country under their wing and can impose rules they want in the hopes of "making that country prosper economically" with the IMF. This chapter also says that if the countries with power doesn't have their country under control, every nation that they "took under their wing" would be in the same situation as the more powerful country, if not the same situation, a worse situation. Chapter 27 describes the impact the IMF has on other countries. The IMF acts like they know what's best for poorer countries and sets spending limitations that country has to follow in order to receive help from the IMF. This means that if a country is really struggling financially, the IMF won't help them unless that country follows their specific rules, that the more powerful countries don't follow.  Chapter 27 also suggests that the IMF is an undemocratic system that limits countries financial freedoms and national freedoms which I agree with. Overall the IMF seems like a good idea that could help countries that really need it, but its a trap that limits a countries financial and national freedoms and keep that country in a state of debt that they ultimately can't get out of. When the IMF comes into a country they essentially become the "new government" because of how they monitor that countries spending. To me, The IMF is essentially trapping countries in a constant loop of debt and rewriting the basics of that country for their "prosperity."

1 comment:

Emerson Donaldson said...

I like your overall analyzation on what the book says about the IMF, especially highlighting them possibly using poorer countries for their own "prosperity". I agree that the IMF does seem like a good idea in theory as well, although poor execution combined with strict financial and national freedoms does negatively affect how it helps less fortunate countries.