Liberal international economic order

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Ild Bank]] provides aid to developing countries. The order is also premised on the notion that liberal trade and free markets will contribute to global prosperity and peace. Critics argue that the liberal order has sometimes led to social problems such as inequality and environmental degradation.[1]

Critics also argue that the liberal order tilts the scales in favor of the United States and its Western allies, as seen in voting shares in the International Monetary Fund and World Bank. Some see China as a potential challenger to the liberal order, as its initiatives such as the Asian Infrastructure Investment Bank and One Belt One Road Initiative appear to compete with existing international institutions.

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References[edit]

  1. ^ "All About: Developing cities and pollution". Cnn.com. Retrieved 17 March 2019.

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