Question

After the Seattle 1999 World Trade Organization Ministerial Conference fiasco, in the next 2 years, large anti-globalization demonstrations rocked the International Monetary Fund and Work Bank in Washington. What was the anti-globalization movement goal- and was it right? Explain you answer and where appropriate use figures.

Answer 1

Solution:

The movement aims for an end to the legal status of "corporate personhood" and the dissolution of free market fundamentalism and the radical economic privatization measures of the World Bank, the IMF, and the World Trade Organization.

For the most part, this movement is characterized by a liberal, or left-wing, political stance. These antiglobalization activists seek to change society's institutions, to banish inequality, and to provide a safety net for the most vulnerable citizens.

Many economists have long argued that a global economic system is a key to worldwide prosperity and peace among nations. When nations freely trade with one another, these economists believe, the wealth of prosperous nations can help lift developing nations out of poverty. In addition, the increased understanding that can result from economic partnerships could minimize conflict and reduce the likelihood of war. However, some economists are critical of globalization, especially the practices that began in the late 1990s. During that time, a social reform movement often known as the antiglobalization movement began to take shape.