Fund, India's nominal GDP stands at US$1.53 trillion, making it the tenth-largest economy in the world. With purchasing power parity (PPP), India's economy is the fourth largest in the world at US$4.06 trillion. With its average annual GDP growing at 5.8% for the past two decades, India is also one of the fastest growing economies in the world. However, India's per capita income is US$1,000,
I. Introduction
Brief information about OECD
The Organization for Economic Co-operation and Development (OECD) is an international organisation where 30 democratic countries co-operate based on the principles of representative democracy andfree-market economy. The member countries work together to achieve the economic, social, and governance goals of globalization.
The OECD was establis
and public mandate to revive Russian economy. He overthrew a radical economic reform, focusing on restructuring Russia’s economic system-from the world’s largest command economy into a free-market one. His reform can be explained by three key principles: fiscal austerity, privatization, andliberalization of its economy. It was carried out through the entire sphere of Russia, with particular
and rich countries did not choose free trade for more than brief periods.
They argued that there is only one way to survive the historic tidal force that is globalization, and that is to put on the one-size-fits-all Golden Straitjacket. There is no alternative.
The rich countries
They force developing countries to accept neo-liberalism in order to take their own profit from them
3. Brief Introduction of Two major Schools: Realism and Neo-Liberalism
As the table shown above, realism andliberalism start from different viewpoints. As a result, two rational theories come to a distinct conclusion when it comes to judging international regimes. Even though their basic assumptions are going to largely coincide with each other during the academic neo-neo debate, views on inte