Rejection of Neoliberalism

I found very interesting this article about how developing countries are harmed by adopting the “neoliberal” policies of the World Bank and International Monetary Fund as encouraged by the U.S. The article reports on a paper by Ha Joon Chang that argues that industries in developing nations must be protected until they are able to compete with those in countries with mature economies, that the “free trade” advocated by the U. S. and Europe harms developing economies, and reports on a number of examples cited by Chang.

It seems that Latin American nations are one by one coming to the Chang’s conclusion and are electing governments that resist U. S. pressures to adopt the neoliberal policies. It looks as though Boliva will be next to do so and then, perhaps, Mexico.

Read the Guardian article here


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