Since the 1944 Bretton Woods Conference, the World Bank and the International Monetary Fund (IMF) have shaped global economic policy, with the promise of promoting global growth and prosperity. However, their interventions in developing nations through Structural Adjustment Programs and trade liberalization policies enforced by the World Trade Organization have often resulted in economic exploitation of the global south rather than development. Case studies of Venezuela and Bolivia demonstrate how IMF policies systematically dismantled prosperous, growing economies, creating dependency on Western markets while prioritizing capital accumulation over human welfare. This research explores alternative frameworks for equitable economic development. 

The study proposes "delinking" as a viable alternative, a strategic reorientation toward domestic needs and cooperation among developing nations rather than subservience to imperial economic centers. China’s success with the Belt and Road Initiative validates delinking's potential. On the other side of the globe, The Bolivarian Alliance for the Peoples of Our America (ALBA) exemplifies the delinking approach through regional infrastructure development, alternative banking systems like the New Development Bank, and grassroots initiatives that prioritize local participation. By analyzing ALBA's achievements in Latin America, this research argues for reimagining globalization as a people-centered system focused on welfare and participatory development rather than profit extraction, offering a roadmap for developing nations to achieve genuine economic sovereignty.