The WTO, IMF and World Bank have been major collaborators in the creation and management of the modern global economy. Their activities are endorsed by economically stronger governments and corporations who favor neo-liberal policies and free-market solutions of debt-based finance and international trade Together these institutions encourage economic structural adjustment, privatization and market liberalization in emerging markets. Within the competitive global framework, developing countries are left with little choice other than to comply with the Anti Social agenda. As a result these countries are often left with crippling debt and poorer. Meanwhile, foreign investors and multinational corporations gain control of a significant portion of the world’s resources, finance, services, technology, this reduces human rights, labor standards and keeps the poor n poverty . Around 50,000 people die each day from poverty.
Government are forced into austerity. Created by the US and British at The Bretton Woods Conference after World War II (1944 Hampshire, USA), The International Monetary Fund (IMF) and The World Bank (WB) were designed to ensure economic and corporate profits in countries especially in in Europe.
With restrictions on the movement of capital a period of destabilizing financial speculation and capital exchange often results, further benefiting wealthy investors and speculators whilst often bankrupting domestic companies. This same IMF/World Bank enforced agenda has devastated many developing economies in East Asia and Latin America.
Both the World Bank and IMF criticize recipient governments for their lack of transparency, widespread corruption and undemocratic regimes, insisting on the reform of these aspects as a pre-condition to granting loans and debt relief. However these same issues haunt the World Bank and IMF which are widely regarded as not transparent, undemocratic and unaccountable. Millions of Dollars go unaccountable.
Even the Socialists could save Greece, Greeks voted resoundingly against the tough deficit reduction terms that are tied to Athens’ European Union/IMF rescue package. The budget cutbacks have caused recession, youth unemployment to soar over 50 percent and desperate citizens to commit suicide.
While many Far Left Socialist criticizes Pasok (SI Socialists), No Socialist will win. Tthe the web of Global Finance gangster are too powerful. (This goes for Spain and Portugal.)
The web of power is international and this web is all pervading, the frces of power are overwhelming as never before and people are more powerless than ever before.
As Martin Luther King Said:
“ I am convinced that if we are to get on the right side of the world revolution, we as a nation must undergo a radical revolution of values.
We must rapidly begin the shift from a “thing-oriented” society to a “person-oriented” society. When machines and computers, profit motives and property rights are considered more important than people, the giant triplets of racism, materialism, and militarism are incapable of being conquered.
This is why we are Socialists, if you are a Socialist International Socialist or any other kind. We have to hope. Even the most powerful may try to defeat us.
It looks un-winnable and it may be, that is why the powerful are powerful. They have the might too destroy. Be it is our humanity that makes us stand firm, even if we do not win.
Joham Galtung predicted the end of the Soviet Union in 1980, and 25 years from now 2027, the end of Capitalism.