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Internat Development
International Politics
| Term | Definition |
|---|---|
| LON define internation development | mandate system as a goal of colonial administration and path from colonialism to independence undev. coutries need to try to reach univerisla standards (western, look more like europe) or self determination for diverse societies |
| UN Charter development goal | promote higher standard of living and conditon for economic and social progress and development Use Agencies such as IMF, WB, WHO |
| 1960s UN development decade | decolonizing states join the UN and development because a priority issue in GA |
| 1961 UNGA resolutions | established UN conference on Trade and Development (UNCTAD) Trade = primary instrument for economic development |
| Difference in UNCTAD b.w develop and developing | control over natural resources (ding: stuck in contracts with old imperial countries and d: undermining contracts) Finanical + Tech Assitance ding wants to build insitutions Trade policy |
| G77 | created after 1964 UNCTAD negos when they produce a joint declaration and not a nego block of third world states |
| New International Economic Order Agenda (NEIO) | G77 creates NEIO agenda meant to help ding renego old contracts and give more stake assert all states should help ding develop sov. over nat resources wealth and economic activities UNSC said no, US abstain b/c cold war so gave more food aid instead |
| Debt and Structural adjustments | 1970 debt oil crisis, increase with US interest rates which lead to NEIO b/c countries no longer had control of their economices with IMF and WB |
| ID after Cold War | SU falls so no real opp to Washington conseus (neoliberal policies) Lost of foreign end |
| Millennium Declaration ratified v. NEIO | Goals based around social welfare and wellness of citizens Achieve universal primary edu NEIO was alot more economic not social, need for economic diverisfication |
| why change to Wall st consensus from washington | came from increasing attention to PI instead of state like IMF and WB PI+ wealth managment firms from clients |
| Wall Street Consensus | aim to maintain development policy focus on markey based solutions States need to provide safety net for investors |
| State "de-risk" w/ Wall street | State being de risking the investments made my PI in order to get them b/c they are in desperate need of the money and have almost no bargain power but need to create infasture Nigeria with energy from French asset manager meridiam |
| New players in ID | Global south increase in share of FDI and foregin aid BRICS - established New development bank and Contingent reserve arrangement (to replace WB and IMF) growth halted by 2008 crisis |
| China in ID | created China Belt and Road Initiative (BRI) taht created infrastructure in Africa and Asia halted by 2008 crisis |