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Global Politics and Economic Inequality

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Questions and Answers

What was the primary function of the IMF and World Bank in relation to underdevelopment?

To promote international cooperation and financial stability

To facilitate economic growth and independence in the Global South

To provide humanitarian aid to developing countries

To facilitate West's control over financial and trade arrangements (correct)

What was the result of the rise of international financial institutions in the 1960s and 1970s?

A shift in economic power from the West to the Global South

A decrease in international trade and investment

An increase in international banking and financial operations (correct)

A decline in the value of the US dollar

Why did the US provide aid to developing countries during the post-WWII period?

To promote economic development and independence in the Global South

To counter the spread of communism

To maintain international trade and avoid recessions

To supply aid and wealth to the US through credit (correct)

What was the role of governments in maintaining the economy during the post-WWII period?

To stimulate the economy through investment and cheap credit Signup and view all the answers

What was the outcome of the national liberation movements in the Afro-Asian continents during the 1950s-1970s?

The emergence of newly industrialized countries aligned with the US Signup and view all the answers

What was the purpose of the Bretton Woods System established in 1944?

To stabilize exchange rates and commit to fixed exchange rates Signup and view all the answers

Why did the US fear recession during the 1940s-1970s?

Because everyone held US dollars and the US held all the gold Signup and view all the answers

What was the outcome of the process of de-industrialization that began in the US during the 1940s-1970s?

The US began to import more goods than it exported, leading to a trade deficit Signup and view all the answers

What was the impact of Nixon's decision to close the gold window in 1971?

The US remained supreme in the global economy Signup and view all the answers

How did the World Bank and IFIs accelerate underdevelopment in the Global South?

By facilitating Western control over financial and trade arrangements Signup and view all the answers