Contents

pp.：  3 – 8

List of Tables and Boxes

pp.：  9 – 10

Foreword and Synopsis

pp.：  11 – 18

Acknowledgments

pp.：  19 – 20

List of Abbreviations and Acronyms

pp.：  21 – 22

Notes on Spellings, Usages, and Other Conventions

pp.：  23 – 24

Chapter One: The Fourth World War

pp.：  25 – 72

I. Antecedents to the Global Development War

pp.：  26 – 35

A. World War I

pp.：  26 – 27

1. Self-Determination

pp.：  26 – 26

2. Presumptions Upended

pp.：  27 – 27

B. World War II

pp.：  28 – 30

1. Global Economic Issues Break the Political Surface

pp.：  28 – 28

2. Human Rights Rumblings

pp.：  29 – 29

3. International Law and International Organizations

pp.：  30 – 30

C. The Cold War

pp.：  31 – 35

1. A Bold Experiment

pp.：  32 – 32

2. Economic Assistance and Ideological Influence

pp.：  33 – 33

3. A Giant with Nightmares

pp.：  34 – 35

II. The Nature of the Global Development War

pp.：  36 – 72

A. Conflicting Development Ideologies

pp.：  37 – 52

1. Development

pp.：  37 – 38

2. Human Development

pp.：  39 – 39

3. Liberal or Orthodox?

pp.：  40 – 46

4. Intelligent or Ill-Conceived?

pp.：  47 – 48

5. Participatory or Authoritarian?

pp.：  49 – 49

6. Multilateral, Bilateral, or Regional?

pp.：  50 – 50

7. Sustainable or Improvident?

pp.：  51 – 51

8. Summary

pp.：  52 – 52

B. Why the War Matters

pp.：  53 – 67

1. Despair, Danger, and Development

pp.：  53 – 65

2. Terrorism: Predictable Consequence or Parallel Conflict?

pp.：  66 – 67

C. The Machinery and Theaters of War

pp.：  68 – 72

1. The Political and Institutional Topography

pp.：  68 – 69

2. The Global Economic Organizations

pp.：  70 – 72

Chapter Two: A Cacophony of Criticisms—Attacking the Global Economic Organizations

pp.：  73 – 114

I. A World of Problems

pp.：  74 – 77

A. Growing Economic Distress

pp.：  74 – 75

B. Globalization as Culprit?

pp.：  76 – 77

II. Cataloguing the Criticisms

pp.：  78 – 86

A. Criticisms by Types of GEOs

pp.：  78 – 81

1. The Logic of Disaggregation

pp.：  78 – 77

2. The Twenty-Three Criticisms

pp.：  78 – 81

B. The Eight Clusters of Complaints

pp.：  82 – 86

Appendix to Chapter Two: Representative Survey of Literature Criticizing the GEOs

pp.：  87 – 114

Chapter Three: What Are the Global Economic Organizations?

pp.：  115 – 190

I. Historical Survey

pp.：  116 – 128

A. Highlights in the GEO Timeline

pp.：  117 – 119

B. The Inter-War Period and Bretton Woods

pp.：  120 – 123

1. Before 1944

pp.：  120 – 121

2. Three Proposed Solutions

pp.：  122 – 123

C. The First Twenty-Five Years: From 1945 to 1970

pp.：  124 – 125

D. The Second Twenty-Five Years: From 1970 to the mid-1990s

pp.：  126 – 127

1. Reacting to Change

pp.：  126 – 125

2. Whither the Nation-State?

pp.：  126 – 127

E. The Contemporary World of the GEOs

pp.：  128 – 128

II. The IMF in a Nutshell

pp.：  129 – 140

A. The Grand Design and Its Collapse

pp.：  129 – 130

1. Establishment of the IMF and the Par Value System

pp.：  129 – 129

2. Collapse of the Par Value System and a Redirected IMF

pp.：  130 – 130

B. IMF Financing and Resources

pp.：  131 – 135

1. IMF Financing Facilities

pp.：  131 – 133

2. IMF Conditionality

pp.：  134 – 134

3. IMF Resources for Lending

pp.：  135 – 135

C. Other IMF Operations

pp.：  136 – 136

1. Surveillance

pp.：  136 – 135

2. Technical Assistance

pp.：  136 – 136

3. Special Policy Endorsement

pp.：  137 – 136

D. Governance and Other Institutional Matters

pp.：  137 – 140

1. IMF Structure and the Weighted Voting System

pp.：  137 – 137

2. Membership; Obligations; Privileges and Immunities

pp.：  138 – 138

3. Funding the IMF's Operational Expenses

pp.：  139 – 139

4. Debt Relief

pp.：  140 – 140

III. The World Bank and the Regional MDBs in a Nutshell

pp.：  141 – 157

A. MDB Lending Operations

pp.：  142 – 144

1. Project Financing

pp.：  142 – 142

2. Policy-Based Lending

pp.：  143 – 143

3. Lending Terms

pp.：  144 – 143

4. Procurement

pp.：  144 – 144

B. Technical Assistance and Other Operations

pp.：  145 – 146

C. Resources and Other Financial Matters

pp.：  147 – 150

1. More on the Distinction Between Hard Loans and Soft Loans

pp.：  147 – 147

2. MDB Capitalization, Borrowings, and Replenishments

pp.：  148 – 150

D. Membership and Institutional Matters

pp.：  151 – 154

1. Membership in the MDBs

pp.：  151 – 152

2. Structure of and Decision Making in the MDBs

pp.：  153 – 154

E. Other Aspects of MDBs and Their Operations

pp.：  155 – 157

1. Policies and Initiatives

pp.：  155 – 154

2. The Generational Character of the MDBs

pp.：  155 – 157

3. Debt Relief

pp.：  158 – 157

IV. The WTO in a Nutshell

pp.：  158 – 172

A. The GATT 1947

pp.：  159 – 164

1. Aims and Principles

pp.：  159 – 161

2. Exceptions to GATT Principles

pp.：  162 – 164

B. Negotiating Rounds and Other Developments

pp.：  165 – 167

1. Tokyo, Uruguay, and Doha

pp.：  165 – 165

2. The Uruguay Round Agreements

pp.：  166 – 167

C. Institutional and Structural Matters

pp.：  168 – 172

1. The Nature of the WTO and the WTO Charter

pp.：  168 – 168

2. WTO Membership and Structure

pp.：  169 – 169

3. Decision Making and Dispute Settlement

pp.：  170 – 172

Appendix to Chapter Three: Voting Power of IMF Member Countries and Constituencies

pp.：  173 – 190

Chapter Four: Battles over the GEOs' Policies and Operations

pp.：  191 – 250

I. Bad Policies, Projects, and Performance

pp.：  192 – 216

A. The Ideology of Trade Liberalization

pp.：  192 – 198

B. The "Washington Consensus", Moral Hazard, the IMF, and the MDBs

pp.：  199 – 206

1. The Criticisms

pp.：  199 – 200

2. Improvement or Deterioration?

pp.：  201 – 201

3. Causation

pp.：  202 – 202

4. Moral Hazard?

pp.：  203 – 203

5. Changed Prescriptions

pp.：  204 – 205

6. Summing up on IMF Policy Prescriptions

pp.：  206 – 206

C. Bad Projects, Priorities, and Performance by the MDBs

pp.：  207 – 216

1. Bad MDB Policies and Projects?

pp.：  208 – 211

2. Wrong Form of Assistance?

pp.：  212 – 213

3. MDB Management and Staffing

pp.：  214 – 216

II. Distributional and Social Injustice

pp.：  217 – 228

A. Winners and Losers from WTO-Led Free Trade

pp.：  217 – 223

1. Focusing on the National Level

pp.：  218 – 219

2. Focusing on the Global Level

pp.：  220 – 223

B. Austerity Measures, the IMF, and Social Ruin

pp.：  224 – 226

C. Human Rights and the MDBs

pp.：  227 – 228

III. Environmental Degradation

pp.：  229 – 236

A. The MDBs and the Environment

pp.：  230 – 231

B. Racing to the Bottom

pp.：  232 – 236

IV. Encroachments on Sovereignty

pp.：  237 – 244

A. WTO Prohibitions on Social Protectionism

pp.：  237 – 241

B. IMF and MDB Conditionality

pp.：  242 – 244

V. Summary: Evaluating the Criticisms of GEO Policies and Operations

pp.：  245 – 250

Chapter Five: Battles over the GEOs' Character, Control, and Reach

pp.：  251 – 298

I. Secrecy and Opaqueness

pp.：  251 – 255

A. The Illumination of the IMF

pp.：  252 – 253

B. The MDBs and the Momentum Toward Openness

pp.：  254 – 254

C. The WTO—A Different Momentum Toward Openness

pp.：  255 – 255

II. The Democracy Deficit

pp.：  256 – 278

A. The IMF: Voting, Structure, Authority, and Leadership

pp.：  257 – 265

B. The MDBs: More of the Same, But Worse

pp.：  266 – 271

C. The WTO and Partial Unaccountability

pp.：  272 – 278

1. Democracy in the WTO?

pp.：  272 – 272

2. The WTO's Allegiance to Its Members

pp.：  273 – 273

3. Genuine Unaccountability Problems

pp.：  274 – 275

4. Strengthening Weak National Governments

pp.：  276 – 278

III. Mission Creep of the MDBs and the IMF

pp.：  279 – 288

A. Mission Creep and the Three Generations of MDBs

pp.：  280 – 286

1. Old Dogs and New Tricks

pp.：  280 – 281

2. Legality and Ideology

pp.：  282 – 286

B. IMF Mission Creep?

pp.：  287 – 288

IV. Asymmetry in Obligations (IMF and the MDBs)

pp.：  289 – 293

A. Asymmetry in IMF Obligations

pp.：  290 – 292

B. Asymmetry in MDB Obligations

pp.：  293 – 293

V. Summary: Evaluating the Criticisms of GEO Character, Control, and Reach

pp.：  294 – 298

Chapter Six: The Current Front in the Global Development War— How (and Whether) to Reform the GEOs?

pp.：  299 – 352

I. Reforming the MDBs

pp.：  300 – 311

A. Transparency

pp.：  301 – 301

B. Participation

pp.：  302 – 302

C. Legality

pp.：  303 – 303

D. Competence

pp.：  304 – 305

E. Accountability

pp.：  306 – 308

1. Accountability of Member Countries

pp.：  306 – 306

2. Accountability of the MDBs

pp.：  307 – 308

F. Substantive Norms and Standards

pp.：  309 – 310

G. Charter Amendments

pp.：  311 – 311

II. Reforming the IMF

pp.：  312 – 324

A. Structural and Operational Changes in the IMF

pp.：  314 – 318

B. Enhancing Competence in National Governance

pp.：  319 – 324

III. Reforming the WTO

pp.：  325 – 336

A. Distributional Justice and Distributional Generosity

pp.：  326 – 330

B. Environmental and Human Rights Protections

pp.：  331 – 333

C. Transparency

pp.：  334 – 333

D. Accountability

pp.：  334 – 335

E. Development Assistance

pp.：  336 – 336

IV. Concluding Observations

pp.：  337 – 346

A. Collective Assessment of the GEOs

pp.：  337 – 338

B. The Perils of Bilateralism

pp.：  339 – 343

1. Chinese Bilateral Development Financing

pp.：  339 – 341

2. US Bilateral Trade Negotiations

pp.：  342 – 343

C. The Role of the USA and the Future of the GEOs

pp.：  344 – 346

Appendix to Chapter Six—Draft Protocol to the AsDB Charter

pp.：  347 – 352

About the Author

pp.：  353 – 354

Selected Bibliography

pp.：  355 – 362

Index

pp.：  363 – 368