The failure of the IMF, World Bank and WTO to represent and further the interests of the developing world, through their one-size-fits-all approach, has lead to the collapse of trade negations, widespread criticism of their effectiveness, and bitter international protest. Many countries are rejecting the neoliberal ideologies of the ‘unholy trinity’ with intensifying calls for their reform or decommissioning.
To many, George Bush’s $2 billion border fence will be but another testament to the futility of walls. In the face of persistent adversaries and technological advances, each of history’s more notable barriers have proven obsolete over time. The 1500 mile Chinese wall was penetrated at least three times, most famously by the Mongols in the 13th century. The 300 mile Roman barrier of Limes was useless against the mass migration of Huns and Goths after the late 4th century, while only Hadrian’s wall could claim some efficacy, until its garrison withdrew abruptly for the defence of Rome. And of course, the Maginot and Siegfried lines were spectacular failures.
While the United States has long imported oil and other raw materials from the third world, we used to import manufactured goods mainly from other rich countries like Canada, European nations and Japan.
Forty-five donor countries have pledged 25.1 billion dollars for the bank's International Development Association (IDA). This brings to 41.6 billion dollars the total available for cheap loans and grants to some 80 impoverished countries between mid-2008 and 2011 -- an increase of 9.5 billion dollars over the current three-year budget.