[simcalovestvd]

Globalization has played an important role in these failures

• Predictable effect on inequality within advanced industrial economies
  -Effects on developing countries harder to explain
• Unfair trade treaties have compounded problems in developing countries
• Problems compounded by asymmetric liberalization
• Africa has neither resources nor education to take advantage of new opportunities

• Latin America followed advice of IMF/WB
  -best “student” of Washington Consensus policies
  -Capital market liberalization exposed them to huge volatility; privatizations were often corrupt
• Contrast between Transition countries following Washington consensus policies and China and Vietnam (which did not) is marked
• Africa exploited even in post-colonial world
  -Exacerbating general problem of inequality
  -But had been left without the education, technology, and resources to take advantage of new opportunities

[Tomorrow's skies]

I've learned about globalization in my Human Geography class and it's truly horrible for this planet and everyone on it