Week 8

As development progresses, the avenues through which it takes place continues to change and improve. For example, while the Bretton Woods institutions have been the primary development lending institutions for several decades, other options are becoming more prominent. The Asian Infrastructure Investment Bank (AIIB), for example, is one that is making great strides, and is just one example of South to South aid being administered (Troilo, 2014). This diversity of lending options, and therefore competition, could start to weaken the West's control of development through condionalities, particularly as they relate to capitalism and democracy (Beudet, Haslam, & Schafer, 2012).

Additionally, technology is bringing new tools and innovations that have the great potential to increase development. Although the world is facing more challenges than ever before (urbanization, dramatic changes in demographics, and climate change, to name a few), both high technology and basic innovations to current machinery in developing countries are bringing advances in education, health, equality, and improved food supply. Because of this, there is a greater chance today than ever before that achievements like the reaching the Sustainable Development Goals will be realized through global efforts toward sustainable development.

References
Beaudet, P., Haslam, P.A., Schafer, J. (2012). The future of development?. In Haslam, P.A., Schafer, J., & Beaudet, P. (Eds.), Introduction to international development: Approaches, actors, and issues (2nd ed.) (526-537). Ontario: Oxford University Press.

Troilo, P. (2014, September 8). In ADB's image, China-led AIIB to test infrastructure alternative in Asia. Devex. Retrieved from http://www.devex.com