Will the NDB win more members from the developing world and be in a position to challenge the hegemony of the World Bank and the Bretton Wood system?

600 words Due: 02/08/2018 @ 12pm

RUBRIC The paper is to be clearly connect to the assigned readings; addresses all required elements in the assignment; reflects erudition, an in-depth analysis of the readings, outside source material with proper citation.

Assingment:

World Bank’s history has been associated with the development of the Third World. But development is not limited to the third world. The economic crisis in the US and the Euro zone show that lessons of development – just like principles of sound economics – apply equally to all countries. There is an emergent need to develop an infrastructure for a world beyond aid. To do so, Zoellick argues that the world still needs the World Bank.

Do you think the establishment of the NDB is the first step towards the end of the Bretton Woods system, as established at the end of the World War II?

Will the NDB win more members from the developing world and be in a position to challenge the hegemony of the World Bank and the Bretton Wood system?

Read the two divergent thoughts and formulate your opinion.

Read the links below, answer the assignment above .

Robert B. Zoellick, Why We Still Need the World Bank; Looking Beyond Aid.

https://www.foreignaffairs.com/articles/2012-02-16/why-we-still-need-world-bank

The second article is about the New Development Bank (NDB) and if it will pose a challenge to the World Bank.

July 2014 saw the establishment of the New Development Bank by the BRICS countries. Will this bank pose a serious challenge to the World Bank?

https://thediplomat.com/2014/07/brics-bank-the-new-kid-on-the-block/