Essays on Economic Reform

Neo-liberalism encourages economic liberalism, promoting the divide between the rich and the poor; it is active today, that is why it’s neo or new. However, it has lost dominance since the 1990s because of growing awareness of, and resistance to, its negative consequences. Peters and Bourdieu point out that The World Bank, the IMF, the WTO, the Asia Development Bank (ADB), the OEC, the General Agreement on Tariffs and Trade (GATT) and the GATS have promoted neoliberal policies like privatisation, free trade, lowering labour costs and shrinking public expenditure (qtd. in Jiang 13). The neoliberal policies imposed by ...

Introduction

Since the end of the Great Wars, the US hegemony has remained superior than other countries and it was clear no one would be able to challenge their dominance in the fields of politics and the economy. Many countries often seek the advice of the US in terms of their political and economic reforms and seek aid to ensure their continuous growth. When there are major conflicts, the US is considered by many countries to act immediately due to its role as a world police. Considering its role in the international arena, many believed that the US would remain ...

Abstract

Developed countries have long agreed that there is a necessity to assist developing countries if the world is to develop continuously without issues. These developing countries have the capacity to compete against developed countries if they are given enough support and education on how they can bolster their development. Today, two regions are currently succeeding in breaking the expectations of the international community and they are East Asia and Latin America. Since the end of the Second World War, countries for both regions launched extensive economic reforms that enabled prosperity to persist in the region. Considering this change within ...