Globalization - Essay Example

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On one side, globalization gives positive impacts, such that it allows countries to fulfill the needs –idea, foods and inventions from different parts of the world – that cannot be produced in their own…
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Globalization
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"Globalization"

Download file to see previous pages Kincaid and Black presented their views regarding developing countries being profusely pressurized with agony from developed countries. The problem faced by developing countries often arise due to financial reasons. Since developing countries are considered “young”, they need to make a lot of improvements in some aspect of society. In order to achieve it, developing countries will need a huge amount of money to support their development. Unfortunately, most of them do not have favorable financial situation. In Black’s documentary film, she also explains how developed countries with their huge and rude organizations - such as International Monetary Fund (IMF) and World Trade Organization (WTO) - control the politic, economy, and life of the Jamaicans. After colonialism, Jamaica started her independence with the loan from IMF. The IMF has certainly helped many countries and this is a very good practice. IMF granted a loan with the requisite of short term borrowing contract and trading interest. With no other options, Jamaicans had to accept the condition and open their country to globalization. By then, there are many multinational corporations that followed along globalization, such as Mc Donald, Tacobell, Baskin Robins and many more. For many years, Jamaica had been dependent with the loan of IMF. In 1973, the banking system needed financial support to support the agriculture in Jamaica. Seeking a solution, the government of Jamaica came to IMF again for a loan. Beyond any expectations, the requisite that was given by IMF became stricter than before. IMF proposed the restriction to abandon local subsidy and any control of import product. Without any options left, the government of Jamaica had to accept the condition to help save their financial problem. The exploitation of laborers is very common in almost every developing country and this is unacceptable, it is high time to pay the laborers what they deserve and it is time to bring about a ...Download file to see next pagesRead More
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