Professional Documents
Culture Documents
On
“The Concept of Global Village”
Organized by
Aditya Institute of management
Narhe, Pune.
Research Paper
On
Abstract
LDC criteria are reviewed every three years by the Committee for
Development Policy (CDP) of the UN Economic and Social Council
(ECOSOC). Countries may "graduate" out of the LDC classification when
indicators exceed these criteria. The United Nations Office of the High
Representative for the Least Developed Countries, Landlocked Developing
Countries and Small Island Developing States (UN OHRLLS) coordinates
UN support and provides advocacy services for Least Developed Countries.
This leads to formulate the Objectives as -
• To study policies, rules and principles which ensure integration of
world economies.
• To study the democratic (or rather non-democratic and non-
participatory) process of International Institution’s policy-making, and
the appropriateness (or rather inappropriateness) of the International
policies for united global nations.
• To Find out basis for difference between developed, developing and
least developed economy.
• Participation of developing, developed and least developed countries
and at what extent for integration of world economies.
• To study impact of Globalization on world.
• To study support and co-operation given by developed countries to
developing and least developed countries for development.
Explanation-
Decisions at the World Bank and IMF are made by vote of the Board of
Executive Directors, which represents member countries. Unlike the United
Nations, where each member nation has an equal vote, voting power at the
World Bank and IMF is determined by the level of a nation's financial
contribution.
Percent
Director Votes by Total
Casting Votes of of Fund
Alternate Country Votes1
Total2
Appointed
Meg Lundsager United States 371,743 371,743 16.74
Douglas A. Rediker
Mitsuhiro Furusawa Japan 133,378 133,378 6.01
Tomoyuki Shimoda
Hubert Temmeyer Germany 130,332 130,332 5.87
Stephan von
Stenglin
Ambroise Fayolle France 107,635 107,635 4.85
Aymeric Ducrocq
Alex Gibbs United Kingdom 107,635 107,635 4.85
Robert James Elder
• Countries can set up a free trade agreement that applies only to goods
traded within the group — discriminating against goods from
outside.
• Developed countries can give developing countries special access to
their markets.
• A country can raise barriers against products that are considered to be
traded unfairly from specific countries.
Suggestions
• Establishment and promotion of highly integrated International
Institutions.
• Implementation of sound policies, programmes and principles which
promote development and growth of world as a whole
• Quota review should be done to give preference to developing and
LDC in voting power so that uniform set of rules and principles can
be formulated.
• International Institutions should appreciates, educate and advises
countries on the functions and selective uses of capital and trade
controls at national level, and helps them establish the capacity to
introduce or maintain such controls;
• Rich and developed counties need to do more to reduce trade-
distorting subsidies and dismantle their existing barriers on
competitive exports from developing countries for promotion of trade
investment and growth.
Conclusion
Globalization is powerful force to move towards integrated world. In the
present scenario of the global trade, both developing and developed worlds
have their roles to play. However, the strongest gains have been made by the
advanced countries and only some of the developing countries. That the
income gap between high-income and low-income countries has grown
wider is a matter for concern. The WTO IMF, World Bank and other Global
institutions aand the developed world must make further concessions for the
developing countries, which are in majority and have a very small portion of
the total world trade, and are not in a position to compete with the advanced
industrialised nations.
References