The No-Nonsense Guide to Globalization by Ellwood - Essay Example

Ellwood discusses how Third World countries united, into political organizations such as the Non-Aligned Movement, to break out from the polarized West/East power struggle (Ellwood, 2001). According to Ellwood, this was a way for Third World countries to confirm that they also wanted to prosper. At the end of the chapter, Ellwood discusses how Third World nations borrowed loans from westerners to develop their nations (Ellwood, 2001). Ellwood thinks that these borrowings have gone out of hand, which has brought about massive debts along with structural adjustments in the world economic system. Further reading of the book is advised.

The video watched was extremely impressive. It shows the true picture of the debt, which Third World countries owe the westerners. Stunning information from the documentary is that Africans gave back twice as much as they borrowed from First World countries. This does not make any sense as aid is supposed to assist people in developing, and not deprive them much further. What is the need for aid if it makes you much poorer than before?