I didn’t realize how much America influences the world economy. Which also means I was unaware of how our dominance has been declining over the years. Finding out that the US doesn’t really listen to the IMF and WB all the time was news to me. I definitely think the US has a global economic responsibility that it clearly hasn’t been taking very seriously. This really just shows how much rich countries can get away with compared to poor ones.
Another thing that was very interesting was learning all the issues associated with the IMF. What do you mean countries who are helped by the International Monetary Fund typically don’t do well economically? The whole point of the IMF is to help the countries that ask for help — and the most successful countries reject market fundamentalism, which is literally the system the IMF pushes countries under it’s support to follow. I want to criticize the IMF but I don’t know enough about any of this to suggest better ideas. I can see the positives and negatives of the IMF’s policies much clearer now, even if I think the negatives seem to be overwhelming.
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