GBST300 Essay Example | Topics and Well Written Essays - 250 words - 5

GBST300 - Essay Example World Bank is mainly an institution concerned with development whereas the IMF focuses on maintaining orderly payment systems between countries. IMF has no subsidiaries while World Bank has subsidiaries across the world. The structure of World Bank is also more complex than that of IMF. It means different things to diverse people but the most vital aspect is the economic dimension of globalization, which has led to opening up of economies to global competition, giving room to ideas, goods, capital and people to interact and move freely between countries. Free market, justice to all people, and personal freedom are the main elements of neoliberalism. It relates to Washington consensus in the sense that it encourages economic policies that aimed at reforming and repairing the damaged economies of third world countries. Both neoliberalism and Washington consensus focus on making the world a better place to live in for all people around the world. He thinks so because via education and government accountability, poverty can be eliminated. However, the movie End of Poverty disagrees because corruption and poor policies to eradicate poverty does not exists. Poverty eradication demands sound policies and zero tolerance to corruption, which is deficient in many governments. In sum, government is not committed to eliminating poverty. The four gaps include human trafficking, lack of education, over population and corruption. These gaps make leaders in developing countries fail to take responsibility of their actions. The four traps drain most governments of the energy required to make progress in development because governments of developing nations tend to have their attention diverted to other things that just affect development negatively. As such, the countries remain contained within the poverty cycle. Globalization has destabilized the economies of poor states and uncovered people to