Edited by author 09-24-2005 03:36 PM
1.Doha round is proving that WTO is nolonger the forte of USA and the WEST. The tough stance of the developing countries agricultural subsidies is a testimony to this fact. This has come about with China, with its increasing clout in international trade, joining the WTO.

2. World Bank has unduly got a negetive image its influence on Economic policy is minimal as its project funding is rarely tied with conditionalities. Anyway after the debt crisis of Latin American countries developing countries have increasing been using " Equity" route to raise foreign exchanage resources, thereby reducing there dependence on WB.

3. The writ of IMF runs in a country only if it gets itself into deep foreign exchange deficits on the current account. If the country can make sure that it wont need the IMF again it can flout IMF conditionalities.

4. More than these three agencies its the kind of "unilateralism" that Bush administration showed in Iraq that can be a future route of domination in a unipolar world.