Life And Debt Summary

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Recommended: Effects of globalization on developing countries

Life and debt is a documentary portrays an example of the impact economic globalization can have on a developing country such as Jamaica. When most Americans talk or think about Jamaica, they think about the gorgeous weather, the beautiful beaches, and friendly people that make it a wonderful vacation spot. This documentary displays Jamaica in a different element, by showing an increasingly big problem, debt. The everyday survival of many Jamaicans is based on the economic decisions and actions of the United States and other powerful foreign countries. We have read in lecture 5.1 that dependency is a big factor with countries that rely on outside nations or regions for goods. In the beginning of the movie, a man says that Jamaica must expand …show more content…

In fact, the debt was over four billion dollars and they owed it all to the World Bank and IMF. This eventually caused Jamaica’s economy to sink and fall through the roof. It destroyed local businesses and agriculture. In the video, we saw working men and woman who are working horrific six-day-a-week work weeks to receive the legal minimum wage of only $30 in US dollars for the entire week. Jamaica is a developing country. It has not reached the western-style standards of democratic governments, free market economics, industrialization, social programs, and or guarantees human rights for their citizens. With that being said this was ridiculous when I watched this because how do you think the world bank is goanna expect a nation like Jamaica to pay back 4 billion dollars. Its ridiculous. Especially because there is so much that is being done in Jamaica that isn’t helping their country. For example, over 10,000 women currently work for foreign companies under sub-standard work conditions ($30 U.S dollars a day). Also, the port of Kingston is lined with factories, in which are made available to foreign garment companies at a cost that is very low. These factories are allowed to bring in shiploads day after day of material that are tax-free. Then to have them assembled and sewn and then immediately transported back to foreign markets is aren’t helping their economy one

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