Question

As you prepare to view Life + Debt which has been labeled as a  poor documentary, since it shows just one side of the story and makes a caricature of what is a complex issue - that of globalization. This documentary continues the conceptualization of Third World countries as passive actors in the global political economy. However armed with your knowledge of the global economy, and the place that Third World now occupy, please answer the following question.

Identify possible products that should have been sold to the caribbean region, and internationally.

Answer 1

In 2001, Stephanie Black (popular American film director) made a documentary Life and debt which focused on the distressing effects of capitalist globalization in Jamaican natural life as well as human life. This documentary showed that loans from a popular banks like World Bank, the International monetary fund made the situation worse. In terms of the document, this type of loan is considered under the free trade principle of the globalization and the structural adjustment policy which indirectly transforms developing or third world countries into servants like Jamaica. In the Jamaican case, over the long run, the Jamaican Government was failed to repay the loan and interest. Therefore, to solve the issue of national currency devalued which increase foreign currency and reduced wages that convert the work of labor into servitude and slavery.

In this context, it should be noted that during that situation health service and less education reduced due to lower spent on the social sector. In addition to that, the agriculture and the Jamaican industry have been devastated. As a result of that, Jamaica was completely dependent on the product of America.

Therefore, a possible products that should be sold to the governments are raw materials as it will help to produce final goods and services. In addition, internationally including Arabia region should be sold good education, good health service as it will help to strengthen the country internally. As per the theory, more education means more development. In addition, to improve agriculture, it is important sold products and instruments which will increase agricultural productivity like good fertilizers, knowledge regarding the techniques, methods and so on.