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Despite the apparent innonence of free trade, the US has progressively infiltrated the developing world by monopolizing trade and enforcing IMF and WB restrictions to development strategies. Through it's manipulation of the United Nations and through its international hegemony, it has effectively become teh world's most important player in the economic realm. The recent invasion of Iraq is a clear example of the free hand the US has to play in the world. Its pressure on China, recently, to reduce subsidies to its domestic products in order to be at par with the US market is another indicator of US power. Forcing China toreduce subsidies is tantamount to causing economic failure because their industries are at a critical stage of development. History has shown the benefits of an import-oriented industrializatino strategy whch focusses on high subsidies to infant industries in order to bring them up to par with world markets.
Approximate Word count = 532
Approximate Pages = 2.1
(250 words per page double spaced)
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