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GLOBAL ECONOMIC ORGANIZATIONS

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GLOBAL ECONOMIC ORGANIZATIONS Organizations Promoting Internationalism Bretton Woods Agreement Concerns about rebuilding the global economy after WW II (avoid repeat ... – PowerPoint PPT presentation

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Title: GLOBAL ECONOMIC ORGANIZATIONS


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Organizations Promoting Internationalism
  • GLOBAL ECONOMIC ORGANIZATIONS

3
Bretton Woods Agreement
  • Concerns about rebuilding the global economy
    after WW II (avoid repeat of Great Depression)
  • Met in the United States 44 countries
    participated (allies of the USA)
  • Signed agreement to establish rules and
    institutions for the global economy
  • World Bank
  • IMF International Monetary Fund
  • GATT General Agreement on Tariffs and Trade
    (later becomes the WTO)

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World Bank (http//www.worldbank.org/)
  • Created after World War Two designed to help
    rebuild countries damaged by war
  • Gives loans to countries in financial difficulty
  • Focus is on reducing poverty by encouraging
    international trade
  • Countries must meet certain conditions to get
    loans
  • Reduce debt and government corruption
  • Promote free market principles (capitalism)

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International Monetary Fund (IMF)
(http//www.imf.org/external/about.htm)
  • Works with the World Bank to provide short-term
    loans
  • Focus is on reducing poverty through
    international trade
  • Monitors exchange rates for world currencies
    (they help to determine what currencies like the
    Canadian dollar are worth, which makes it easier
    to trade internationally)

7
World Trade Organization (WTO) (http//www.wto.or
g/)
  • Formed from GATT (General Agreement on Trade
    Tariffs)
  • GATT created after WWII ? believed free trade
    would encourage world peace
  • Focus of the WTO
  • Improve trade relations between countries by
    removing tariffs and trade barriers
  • Must be a member nation to participate within the
    WTO
  • Members must follow rules on trade, and there is
    a panel that can help to mediate conflicts
    peacefully
  • (Link to Video The Truth Behind the WTO -
    http//www.youtube.com/watch?vE1Oj7Hk31LY)

8
NAFTA
  • NAFTA is an example of a trading bloc group of
    countries that work together to give each other
    better trade terms, often a form of free trade
  • Organizations that are similar to NAFTA include
    ASEAN (Association of Southeast Asian Nations)
    and the EU (European Union)

9
  • NAFTA was created as a result of increasing trade
    between Canada and the United States
  • Eg. car manufacturing
  • AutoPact
  • Desire was to increase trade across the borders
    by promoting free trade
  • Free Trade reducing or eliminating tariffs and
    other trade barriers

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North American Free Trade Agreement
(NAFTA)(http//www.international.gc.ca/trade-agre
ements-accords-commerciaux/agr-acc/nafta-alena/ind
ex.aspx)
FREE TRADE Reducing or eliminating tariffs and
other trade barriers
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G-8 The Group of Eight (http//www.g8.gc.ca/wor
k-en.asp)
  • The eight major developed nations (strongest
    economies)
  • US, Britain, France, Germany, Italy, Japan,
    Canada, Russia
  • as of 2008 China is considered an emerging
    developing nation, as is India so they are part
    of the G20
  • Not a formal organization, instead they meet on a
    regular basis to discuss policy to help influence
    the foreign policies of member nations
  • In 2008 they dealt with issues as diverse as what
    to do about the failure of the Kyoto
    environmental protocol, and the fraudulent
    elections in Zimbabwe

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Protesting International Organizations
  • MANY ORGANIZATIONS ESTABLISHED TO RESPOND TO THE
    NEEDS OF THE POOR OR THE ENVIRONMENT HAVE CHOSEN
    TO PROTEST AT THESE MEETINGS TO GET THEIR MESSAGE
    OUT TO THOSE WORLD ECONOMIC LEADERS.
    INCREASINGLY GROUPS HAVE TURNED TO VIOLENCE IN
    ORDER TO GET ATTENTION FROM THE MEDIA THIS ALL
    CAN BE LINKED BACK TO THE WTO PROTESTS IN SEATTLE
    IN 1999.

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