Magazine article New Internationalist

Dark Victory // Review

Magazine article New Internationalist

Dark Victory // Review

Article excerpt

THIS IS A PUNCHY account of the shift to the free market during the 1980s. Bello focuses on the structural - adjustment programmes (SAPs) imposed by the IMF and the World Bank in exchange for loans to developing countries. This ground will be familiar to many NI readers but the book is a useful introduction for students, well illustrated with photographs. Case studies of Chile, Mexico and Ghana show how adjustment leads most often to a vicious circle of worsening poverty.

Bello's main point is that SAPs have been 'a tremendous success', not in meeting their apparent goal of restoring economic health, but in terms of their broader strategic aim of regaining US global domination -- the resubordination of the South to the North.

The Reaganites saw the threat from the South as contributing to the US's economic decline. Both SAPs and trade - policy pressures to open Asian economies to US goods were part of their policy package for recovery. …

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