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Adjustment Policies
Western industrial economies
Deregulation and privatization
-post-Fordism; downsizing; restructuring
social spending along market lines;
financial liberalization
Post-communist societies
marketization and shock therapy
Admitting failure
'IMF riots' over the past 15 years
-- Zambia, Venezuela, Jordan, the Philippines,
Jamaica, etc.
World Bank has accepted that SAPs have
failed the poor, with a special burden falling
on women and children.
Yet together with the IMF it still demands
developing countries persist with SAPs if they
wish to have access to future loans or debt
relief.
Challenges to Nation-States
Demise of nation-states (deepening of
global interconnectedness)
Limits nation-states political and
economic power (expansive powerinternational institutions globalization
III-WTO, World Bank and IMF)
Developing countries (economic
stagnation)