World Bank is a specialized agency whose main objective is to assist member states fight poverty. It spends over 24 billion every year in several activities which focus on agriculture, trade, education, health, infrastructure and governance. It provides funding for developmental projects aimed at promoting economic growth, emphasizes on the need to fight corruption and developing legal institutions as well as enhancing the role of private investment especially in developing countries (World Bank, 24). The institution gives loans, grants, and provides technical assistance to governments and private investors.
Industrialization projects have often been regarded by the World Bank as the basic components for structural changes which lead to economic growth. By 1990, 16.9 of the Banks lending was channeled to industrial projects. Korea has been a major recipient of funding from the Bank due to its loan utilization and project execution. Projects financed by the IBRD in Korea have been implemented successfully and they range from agricultural sector like irrigation, to the transport sector. It has also benefited from technical experts who were crucial in the preparation of Koreas Fourth and Five Year Plan. South Korea has advanced significantly in technology which has enabled its first transformation to developed status. Currently, major products exported by Korea include electronic products, communication equipments, machinery and transport equipments and computers (World Bank, 42).
Many countries in Africa have benefited from the industrialization projects initiated by the World Bank. Democratic Republic of Congo is a beneficially of a project aimed at developing the Grand Inga Hydropower comprising of two power plants and with a capacity to generate close 45000 MW. Currently, World Bank provides over 300 million for rehabilitation of the two plants so as to increase their potential to 1300 MW. Facilitators of the project claim that its output will supply electricity to over 500 million Africans. Another World Bank project is the Pakistan Poverty Alleviation Fund Project (PPAF), whose aim is to lessen poverty and empower people living in rural and urban areas. The Bank provided 350 million credit to the governments poverty reduction strategy and a further 430 million, which focused on irrigation, human development and education. The aim of the project was to improve public finance, financial regulation and governance. This project increased trade flows and lowered the cost of transit and it is reported that over 6 million people benefited from micro credit loans and small scale business projects (World Bank, 69).
Agriculture account for 57.9 of Congos GDP and its main exports include coffee, cotton, palm oil, rubber, diamond and copper. Exports form Pakistan comprise of textile products, rice, chemicals, and household products.
Question 2 What is Mass Media
Mass media is that section of communication either in writing, word of mouth or broadcast, conveyed to a large audience. The purpose of mass media is to spread information and create awareness to as many people as possible through national communication networks like the internet, radio, televisions, and circulation of newspapers and magazines. Mass media focuses on entertaining people through sports, comedies, videos and music. Its also used for business purposes like advertisement, marketing and public relations, spreading of social issues such as public announcements, and political information (Rothman, 17). It is a persuasive tool whose main intention is to influence people to believe in a certain concept or prefer a particular commodity over the other.
Mass media has become a significant tool in shaping different cultures. In Kenya, mass media has had a large influence especially to the youthful generation who tend to associate with other cultures practiced in developed countries. Also referred to as mediated culture, westernization has made the youth rely so much on ideas that are not important or beneficial to the livelihoods. In America, the celebrity status of individuals has largely been initiated by the media through movies, music and television programs. The effects of mass media can be analyzed through a limited theory perspective which say that since people choose what to view and listen, its effects rarely changes peoples perception (Rothman, 67). However, the media is powerful tool which can sway the less informed and manipulate people. Peoples integrity can easily be eroded by aping vulgar language, scanty dressing and watching explicit programs.
Propaganda is a selective way of communication where facts are presented partially with the intention of influencing an audience. George Bush used propaganda to influence America to go to war with Iraq purporting that it possessed nuclear weapons. After close to two years, the weapons were never discovered and America had occupied Iraq on unproven facts. Question 3 Global Companies and Organizations
Globalization has been made possible due to the advancement of telecommunication, transport and finance systems. Proctor and Gamble which deals with beauty, health and household products has had a significant impact on both developed and developing economies. With its presence in over 180 countries, PG has not only enable people to access quality products, but also has been instrumental in job creation. Coca-cola which is also a global producer of beverage products has received worldwide acclamation due to provision of high standard soft drinks (Cooke, 51). Both companies have been instrumental in uplifting the living standards of developing countries through job creation, increased revenue for the government, utilization of local resources and diversification of products available to the consumers.
However, these multinationals have been criticized with engaging in unfair competition which leads to the collapse of local companies. Since they have access to a strong capital base and modern technology, they produce and sell their products cheaply thus crowding out the local companies. Moreover they engage in aggressive marketing compared to their competitors thus eating into their market share. Coca-Cola products have also been subject to health concern with allegations that they contain high toxic acidity levels (Cooke, 78). In conclusion, multinationals have been known to manipulate public policies by demanding for tax cuts and tax holidays which cuts on the revenue the government collects. Moreover, due to their popularity and market capitalization, they can influence economic policies that concern foreign exchange movement, minimum wage regulations, and marketing policies. Close government supervision is crucial in order to ensure that global companies do not exploit local economies.
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