World Bank serves United Snakes of Imperialism

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[U.S. Imperialism] [Economics]

World Bank serves United Snakes of Imperialism

world bank banquet
On 17 April, 2012 the Associated Press reported on the election of the New United Snakes president of the World Bank.(1) This article demonstrates the control that the U.$. has in the bureaucracy of this agency which serves as an administrator of neo-colonial economic policies within the Third World. Jill Yong Kim, a Korean-born U.$. citizen was elected by the 25 member executive board after he was challenged by the neo-colonial nations, which the author describes as "developing countries." His selection extends the tradition of Amerikans leading the World Bank dating back to the institution's founding in 1944.

The neo-colonial nations contend they need a greater voice in the World Bank.(1) This is evidence that the UN dominated bureaucracy does not take these "Developing" countries interests seriously. Underdeveloped nations struggle for positions of power within these agencies to better influence the policies which are geared to (under)develop their economies. They are bureaucratically smothered by the developed nations (led by the UN) because more developed nations equals less super profits for the imperialists. Hence, the World Bank is founded on the need for underdeveloped countries. In reality, these other countries are only given a voice in the UN to the extent that they can't use it to change the status quo.

The associated press reports: "The World Bank raises money from its member nations and borrows from investors to provide low cost loans to developing countries."(1) This bourgeoisified spin of propaganda purposely hides the fact these loans to the "developing" countries intensify under-development by systematically refusing to fund serious industrialization programs.(2) Instead, these loans are granted for purchase of surplus food from the imperialist nations home markets attached with obligations to pay the money back with interest. If the U.$. controlled World Bank was truly interested in providing "aid" to underdeveloped countries they would grant loans that are geared towards developing agricultural industry which is aimed at consumption needs for the population and to establishing institutions within these countries that produce native modern technicians and engineers who were free to use their expertise within their own respective nations.

Without programs like these, "aid" to a neo-colonized state is merely a revolving credit, paid by the neocolonial master, passing through the neo-colonized state and returning the the neocolonial master in the form of increased profits.(3) Over half the century of the World Bank developmental "aid" to the Third World has accomplished nothing more than creating a comprador class of native exploiters who rely on imperialist agencies and forces to keep the oppressed nations in their place while robbing the national treasuries for their own wealth and privilege. Together the comprador class and imperialists work to exploit the oppressed nations with institutions such as the U.$. run World Bank which in its pure form is an imperialist front to finance oppression in the Third World.

1. San Bernadino Sun April 17, 2012, pg B6
2. Daniel Fogel, Africa in Struggle: National Liberation and Proletarian Revolution Press San Francisco, pg 121
3. Kwame Nkrumah, Neo Colonialism: The Highest Stage of Imperialism, New York: International Publishers, pg XV (introduction)

MIM(Prisons) adds: For an example of World Bank economic practices that keep countries under the imperialist thumb, see our article on the Middle East and North Africa.