Fair Trade Movement between Developed and Developing Countries Outline Introduction Review of Related Literatures a) World Bank and International Monetary Fund: Function of Promoting Development in the Global Age b) Understanding the Washington Consensus c) The Fair Trade Movement between Developed and Developing Countries Conclusion The Fair – Trade Movement: Extension of World Bank and International Monetary Fund’s Policies or A Real Alternative to the Washington Consensus Introduction At the international trade level, the social, political and economic conditions are always more in favour of the developed countries rather than promoting and supporting such equal trading conditions for …
In addition to that, the fair – trade movement promotes securing the rights of the marginalised sectors from the developing nations (EFTA, 2006). Indeed, the fair – trade movement has been one of the most constant and most unwavering criticisms of the World Bank and International Monetary Fund’s (IMF) policies of deregulating barriers to trade. It is the case that the effectiveness of both the World Bank and the IMF are criticised because of its failure to further stand for the concerns of the developing world, including the interests for greater equity in trade (Share the World’s Resources (STWR), no date). Nonetheless, both these Bretton Woods Institutions together with the fair – trade movement are supposedly means to reduce the poverty occurring globally. With the contextualisation of the background of this research investigation, basically, the paradoxical function of fair – trade movement is observed. ...
On the one hand, another vantage point proposes that this fair – trade does constitute a real alternative to the “Washington Consensus”. Given this contradicting points of view, this paper considers the need to critically review, analyse, understand and explain what really the role of the fair – trade it serves. Meanwhile, this paper mainly delves at discussing the function of the fair – trade movement in relation to World Bank and IMF. In order to further understand the focus of this paper, it intends to specifically obtain the following information. First, it points out to establishing what the functions of the World Bank and IMF are. Second, it seeks to grasp an understanding of the Washington Consensus. Third, it wants to analytically determine how the fair – trade movement is currently doing between the developed and developing nations. Through rooting out and analysing such data, it can finally discuss whether fair – trade is an extension of World Bank and IMF’s policies or if it constitutes a real alternative to the Washington Consensus. It is the case that there have been so many attempts in stating and assessing the functions and aims of fair – trade, World Bank, IMF and Washington Consensus in the context of development. It is in this regard why this paper is of significance. This paper is of importance because development is so much a relevant concept not only in the field of sociology but really in every part of the world especially that of the developing ones. By means of development, fair – trade, World Bank, IMF and Washington Consensus are really opportunities to achieve development especially among the disadvantaged nations. Review of Related Literatures This section of the paper will first present a ...
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