Who would’ve thought that the Third World would get to see this day
Not very strangely, the US and its allies are not in that comfortable a position to offset the additional amount after being severely affected by the global recession. Tier talk even goes of the US ‘guiding’ IMF towards Third World countries for its new loan requirements.
The hope of a more democratic and participative world where today’s influential countries are not necessarily the deciders of global policy, is becoming truer, strangely because of an extremely negative economic condition. The true emergence of multi-lateralism would perchance be proven only after the next few years are past and the IMF & World Bank’s cry wolf constitutional change is tested to the hilt. Till then, let them damn the recession!
The hope of a more democratic and participative world where today’s influential countries are not necessarily the deciders of global policy, is becoming truer, strangely because of an extremely negative economic condition. The true emergence of multi-lateralism would perchance be proven only after the next few years are past and the IMF & World Bank’s cry wolf constitutional change is tested to the hilt. Till then, let them damn the recession!
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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