World Bank Advice

The Word Bank Advice For Newly Industrialized Countries

American InterContinental University

Macroeconomics

11-24-2014

The Word Bank Advice For Newly Industrialized Countries

Introduction

The World Bank is an essential basis of financial and technical help for emerging nations all over the world. The World Bank charge is to combat poverty with desire and effectiveness. Hong Kong and Singapore were considered newly industrialized nations in the 1970s to 1780s. Both countries are able to attract the necessary capital, technology and training necessary. Indeed, The World Bank established in 1944 thru the 44 countries that met at Bretton Woods, New Hampshire for the established new post war global trade and industry system. The World Bank headquarter placed in Washington 10,000 employees working in more than 120 offices in the all over the world. The World Bank member provides funds founded on the magnitude of their financial prudence and nation’s voting power would be based on the its contributions or funded amount. The USA is the largest contributor, so it has the utmost voting influence in the World Bank. (Goldman, 2005) Further, newly industrialized countries are an economic classification which represents an economic fall between a developing and developed country. Country declines are under the speedy export compelled trade and industry growth and secular movement of employees from backward to developed areas. (Kuepper, 2014)

The world bank is ruled by these kinds of organizations such as the panel of governors, executive directors and the president. Furthermore, the international finance corporation (IFC), the international development association (IDA), the international center settlement of investment disputes (ICSID) and the multilateral investment guarantee agency (MIGA) are main arm of the World Bank. Each of the institutions has a different mission. Furthermore, the main objective of the World Banks that provide long term run capital to member...