If you somehow do not know or have forgotten what groups like the IMF or World Bank are, here is a definition and here are some sociological theories which explain what they do. Also here is an old 3RD BUTTON article showing some of the lasting effects which exist in countries who buy into ‘sustainable development’. To sum it up:
1) Groups such as the IMF backed by countries like the USA have A LOT of money.
2) They go into 3rd world countries and make deals with the already rich political/business elite to ‘lend’ money for ‘development’.
3) The corrupt elite then use these loans to pay their friends and neighbours who have construction businesses ect ect to do work that never gets done.
4) The elite pocket the money and default on the loans.
5) To pay the loan back they give away the common people’s land to the IMF for payment.
6) No wait people caught onto that so they now give it away in trust to countries which elect an NGO like the Canadian WWF to manage the land.
7) But NGOs kick indigenous people off the land in the name of conservation. Because people who have been one with the land’s ecosystem for thousands of years somehow magically became a threat to the land more so than logging, monoculture farming and ecotourism.
8) Once indigenous people are off the land, NGOs like Canada WWF exploit indigenous people’s knowledge to find plants which they research/produce/patent and sell drugs from… with no money going back to the indigenous people.
9) The indigenous people since having no home or food because they have no land, must do slave wage labor or become prostitutes.
Anyway you get the point, these are some pretty nasty global economic/political players. They need someone to challenge them. For a while now Asian countries have been collaborating to do just that – create an alternative to groups like the IMF. One of these alternatives is the Chinese led AIIB. The AIIB has such potential to rival the IMF that even the UK has recently decided it want’s to be a member of the AIIB. The pressure AIIB is exerting upon the IMF is already showing signs, as the US came out with concerns that the AIIB does not have enough “environmental and social safeguards”, which is ridiculous of the US to say since their IMF has been destroying millions of people’s lives for decades. Will the AIIB do better than the IMF? At least in the short run it looks promising. The mere fact a coalition of nations are together on doing something which is an alternative to the IMF means there is some hope – competition is good.
(Photo credit: http://www.chinatravelgo.com)