“Globalization did not grow in nature… in its present form was deliberately designed by economists, bankers, and corporate leaders… Globalization in its recent form… had a birthplace and birth date: Bretton Woods, New Hampshire, 1944…” (Siena Declaration) Written by anti-globalizers from the International Forum on Globalization, the Seina Declaration proudly pronounces the ideals from the callous view, a view most popular in the current and modern day. Yet, there is so much more beyond the economists, bankers, and corporate leaders that stand to be displayed on the political cartoon of "globaloney." Instead, “The conference has agreed that the nations should establish a permanent international body… called The International Bank for Reconstruction and Development… The conference has agreed on the powers and resources which the Bank must have and on the obligations which the member countries must assume…” (Bretton Woods Documents)
A permanent international body that would stay structured and help bridge the gaps between first and third countries, led by an impartial hand that would be named two different organizations - the International Monetary Fund, and the World Bank.
“Decisions at the World Bank and IMF are made by a 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 contributions. Therefore, the United States has roughly 17% of the vote, with the seven largest industrialized countries (G-7) holding a total of 45%.” (Global Exchange) Through this system can the economy balance throughout the world, through the thriving success of the two organizations named World Bank and International Monetary Fund.
When the Bank and the Fund lend money to debtor countries, the money comes with strings attached. These strings come in the form of policy prescriptions called "structural adjustment policies." These policies—or SAPs, as they are sometimes called—require debtor governments to open their economies to penetration by foreign corporations, allowing access to the country's workers and environment at bargain basement prices.
“[International Monetary] Fund staff made tactical errors at times, but the overall thrust of IMF advice was sound: Prioritize the fight against inflation.” (Lending Credibility; the Internation Monetary Fund and the Post-communist Transition - Rnadall W. Stone.) “The crisis that put the world economy on the brink of collapse is not over. We are only in the eye of the storm. The same ‘experts’ who drove the system to the edge are still in charge. Worse, it’s the same system, with the same values. Quick fixes will not suffice for long; the system is inherently flawed, new voices are needed at the table- now.”
“The IMF was conceived in… [the] United States when representatives from 45 governments agreed on a framework for economic cooperation designed to avoid a repetition of the disastrous economic policies… Article I of the Articles of Agreement state that the purposes of the IMF are as follows: The IMF is responsible for promoting international monetary cooperation; facilitating the expansion and balanced growth of international trade; assisting in the establishment of a multilateral system of payments; and making its resources available to members experiencing balance of payments difficulties… ensuring the stability of the international financial system.” (International Monetary Fund Documents)