The IMF was founded in

with the aim of promoting

stability and the reduction of poverty.

countries joined initially to form the fund that would provide loans to struggling countries. The major benefit of the IMF is that it has helped fund

such as schools and transport in impoverished countries. However it has been criticised for being biased; the USA has

of overall votes and therefore decisions may be based on Western ideals. Also, it imposes harsh

conditions

on aid, such as forcing countries to cut spending in areas such as military.

The WB was formed in 1944 with the aim of giving

and advice to struggling countries. It also addresses

crises. A major benefit of the WB is that it is a source of assistance for over

100

countries and it allows developing countries to have votes, such as

who have 4% of votes. However it received negative attention in the 1970s for funding projects such as development of the

and it is also based on

policies.

The WTO aims to remove barriers to

and improve the welfare of the people in its

member countries. The major benefit of the WTO is that it operates on a

basis which is more fair to developing countries. However, the rules on protection of developing nations are unclear. Africa has been forced to eliminate up to

of tariffs, and ultimately

usually get their way.

Terms coined by

in 1990.

power=getting what you want through force.

power=persuasive, diplomatic, attractive.

power=combination of the two.

A geo-strategic theory by

which states that the

has most of the world's resources, and at the centre of this is the

a power base that controls everything. Historical relevance: the

which wanted to control areas of land to secure

and access

Additionally, Nazi Germany wanted to enforce

by controlling areas such as

The USA had a policy of

during the Cold War, to try and limit the spread of Communism.

Britain took direct control of India in

following a rebellion against British influence. Previously many countries had

here. GB introduced a policy of promoting

as well as culture such as tea-drinking and

Courts and schools were established, and the

was improved to increase trade and transport the military. However by the

feelings of

were on the increase. After WW2, GB was effectively

and needed to focus on reconstruction. In

India was the first colony to gain independence from Britain. Most former colonies were independent by

After WW2, new powers had emerged; the main being

and

The Cold War followed as a result of conflicting ideologies. No direct conflict was involved, but a small number of

were fought by either side, such as the

from 1950-1953. Both countries expanded into Europe, with the USSR taking advantage of countries such as

to create a

zone. Such countries were heavily defended on the Western borders, leading to the formation of an

However following a growth in Natiolism and changes in policies by new leaders, the USSR collapsed in

leaving the USA as a

power.

First Sub-Saharan nation to gain independence. In 1957 its GDP was equivalent to that of

whereas nowadays it is only

in the world, compared to 12th for S.Korea.

One of Ghana's largest industries is the

trade. The price of this is decided by

in MEDC cities. Buyers search for the cheapest supplies for global brands such as

Prices are unstable due to competition from areas such as the

and so the prices have changed

from 1996 to 2002. Meanwhile, most processing is done in the

where tarriffs are higher for processed cocoa than raw beans; the tariff in 2007 for chocolate was

This is known as

and is practised by many countries. In 1995, Ghana joined the

in order to increase trade. Previously, the gov had

farmers, but joining conditions forced them to cease this, even though other countries are allowed to do so. The crisis of prices is the same for

and

growers in Ghana.

Dependency theory offers a different approach as it incorporates

with economics. It takes into account the historical processes of

and does not suggest that

is the key to development. However, the rise of the

seems to argue against its claims, as they were once the periphery and are now developed. The theory suggests that the

keeps the periphery in a constant state of underdevelopment.