1. Creating a Global Economy
colonial roots, international organizations and
inequitable power relations

2. cold war globe

3. development paradigm
was supposed to...
level the playing field
create trade alliances
foster global economy
make independant nations (of former colonies)

4. new world order
global institutions
World Bank + IMF
WB = lending institution
IMF = monitor world currency
short term loans
offical/unofficial rules

5. 1960-70s--shift
height of decolonization efforts
shifted to former colonized nations
1970s rise in oil $-- goes to western banks
lending increases + large scale projects
no accountability
bubble bursts

6. Who is valued?
threats:
“The foreign assets of a country that refuse to pay its
debt would be attacked by creditors throughout the
world; its exports seized by creditors at each dock
where they landed; its national airlines unable to
operate; and its sources of desperately needed capital
goods and spare parts virtually eliminated. In many
countries, even food imports would be curtailed.”
new DEBT repayment focus
new set of policies/programs

7. structural adjustment programs
social + economic strings attached
privatize
wage freeze
export
reduce tariffs/subsides/protections (trade
liberalization)
mono-industries/crops
effects

9. “aid”

10. movie questions
what is the relationship between “development” and
debt?
what is the role of “developed” nations in the creation
of “developing” nations’ debt?
How does national debt effect individuals? And who
is negatively effected?