What is the least convincing about IMF’s recommendation for Jamaica to reduce its trade barriers is that it was done solely to boost its economy and was motivated by the urge to transform Jamaica into an economically sustainable country. The IMF representative in the clip claims that, “They needed to expand their exports and diminish their imports and the best way of doing that is to make foreign currency more expensive.” Whether done intentionally or not, the only economies that seemed to have prospered from this new relationship and reduced trade barriers are those countries that are already economically sufficient. Judging from the negative effects that befell Jamaic...
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...ourishing economies. A trial period should be implemented to safeguard smaller countries from possible negative, lasting effects of being embedded in the new world order. After a specified amount of time, if the goals IMF outlined for a country are not being met and its citizens are not better off economically, then the country should be re-evaluated to understand where the shortfalls took place. Developing countries should also be gradually be introduced into the new world order and trade barriers slowly reduced instead of being thrown into economic liberation without the support of its government or safety nets. By gradually introducing a country to economic liberation, whether or not a developing country would be sustainable in this type of marketplace would be easier to determine and economic calamities like those that were experienced in Jamaica can be avoided.
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