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  1. The internal analysis of Michelin
    1. The ethics of Michelin.
    2. Competitive financial, technical and commercial aspects
    3. Segmentation
    4. Portfolio of products and 4Ps of Michelin
    5. Strengths / Weaknesses of Michelin
  2. The external analysis of Michelin
    1. Microenvironment: Michelin's partners
    2. Market opportunities and threats by the PESTEL method
    3. Competitive analysis and Porter's five forces
  3. SWOT analysis
  4. Strategic decisions undertaken by Michelin on SBA
    1. Passenger Vehicles
    2. Heavy Load
    3. Specialty tires
    4. Other group activities

The issue of public external debt of developing countries ('DCs') is a major concern. A significant proportion of the budgets of these countries are now devoted to debt service. This powerful mechanism for transferring wealth to the countries of the center prevents any real and sustainable development, and so makes these countries the world powers.

Thus, we will present the historical causes of this debt, the solutions over the years, their respective impacts, and finally the impact of the current debt and the main arguments for its cancellation. Several types of actors are involved in the loan system for developing countries. The side of lenders, including banks, can find private, state (mostly northern) and international institutions like the International Monetary Fund and World Bank, both from the Bretton Woods institutions.

These two institutions were set up respectively in July 1944 and December 1945 to ensure the stability of the global economic system, but mainly the reconstruction of Europe in the post-war. They are usually from multilateral debt of developing countries. For their part, the actors who get the loans are States, mainly in developing countries.

Types of debt: debts faced by the southern states need to be properly divided into three categories defined by the creditors involved. As preliminary information, please refer to Table 2 of Annex A in the document on the evolution of the relative importance of different creditors related to the African debt.

In addition to the two international institutions such as the IMF and the WB, the review and coordinated management of the debt of developing countries are principally by the Paris Club and London Club. The Paris Club is an informal group of official creditors whose role is to find coordinated and sustainable solutions to payment difficulties of debtor countries.

It currently has 19 permanent members, all of which are state actors. Since it includes state creditors and its decisions concerning the bilateral portion of the debt of sovereign debtors. In turn, inspired by the model of the Paris Club, London Club is an informal group of private bank creditors. Its decisions are mainly the private portion of the debt of sovereign debtors.

In the aftermath of World War II, Europe received the most attention in global financial part of its reconstruction through the Marshall Plan. During this period, the external debt of Third World was low in a fairly stable currency. The Marshall Plan will restart several European countries to the rank of world powers and was thus partially repaid in the early 1970s.

In conjunction with this influx of money that we nicknamed the Eurodollar appeared petrodollars. These were large sums placed by OPEC countries in U.S. banks and English. The private banks then found themselves with large masses of real money they decided to grow by providing loans to developing countries to interest rates very low. Some countries were even encouraged to borrow beyond reasonable levels since they had opportunities for growth in their exports and thus a potential ability to repay in the future.

At the same time, the North appeared to be the only providers of technology and equipment which the South could supply to grow. The money thus returned to the North and international funding was available again. In addition, during this period, the World Bank, often criticized as a tool of U.S. hegemony, had directions to stabilize areas of strategic and financially support strategic allies against the communist threat and the emergence of revolutionary movements.

Tags: Africa; debt; developing countries; International Monetary Fund; World Bank; Bretton Woods Conference

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