role of international organisations

• The major institutions of the global economy are the
  • World Trade Organisation (WTO)
  • International Monetary Fund (IMF)
  • World Bank

World Trade Organisation

• The role of the WTO :: is to implement and advance global trade agreements and to resolve trade disputes between economies.
• The WTO was formed in 1995 and is the first international organisation with powers to enforce trade agreements across the world.
• The WTO replaced the General Agreement on Tariffs and Trade (GATT) in 1947
• The guidelines set out by the WTO are frequently ignored by economic powerhouses, such as the US & China
• The WTO has an important role in settling disputes between countries.

China’ Membership of the WTO

• China was admitted as a member of the WTO at the Doha Conference in 2001
• increased china’s access to other countries markets’,
• Greater access to world export markets through WTO membership is underpinning China’s future growth and development by achieving three goals:
  1. Diversification of its export base to include more value added ETM and service exports.
  2. Attracting more foreign investment into the service sector of the Chinese domestic economy.
  3. Encouraging more innovation and the use of ICT in the Chinese domestic economy.

International Monetary Fund

• The International Monetary Fund (IMF) is one of the most important institutions in the global economy.
• Its role is to maintain international financial stability

World Bank

• The World Bank’s primary role in the global economy is to help poorer countries with their economic development.
  • to fund investment in infrastructure, to reduce poverty and to help countries adjust their economies to the demands of globalisation.

United Nations

• The United Nations (UN) is a global organisation whose membership includes more nations than any other political or economic organisation.
• Its agenda is broader than any other organisation

Organisation for Economic Cooperation and Development

• The Organisation for Economic Cooperation and Development (OECD) is :: an international economic organisation committed to democracy and open markets
• The primary goal of the OECD is
  ?
• to promote policies for member countries
  • To achieve the highest sustainable economic growth and employment
  • and raising standard of living while maintaining fiscal stability
• thus contributing to the development of the world economy