1Global Economic Organizations (Operate worldwide)
World Trade Organization (WTO)
International Monetary Fund (IMF)
World Bank
United Nations
2are groups of countries or institutions that cooperate to manage trade, finance, and economic development at global or regional levels.
ECONOMIC ORGANIZATION
3An international organization that regulates and facilitates global trade between countries
World Trade Organization (WTO)
4Ensures that trade flows smoothly, fairly, and predictably
World Trade Organization (WTO)
5Purpose of World Trade Organization
1. Promote free trade by reducing barriers like tariffs and quotas
2. Ensure fair competition among countries
3. Encourage economic growth and development..
4. Provides a platform for trade negotiations
5. Prevent trade conflicts from escalating
6Taxes imposed on imported goods
Tariffs
7– Limits on the quantity of goods that can be imported.
Quotas
8Purpose of Promoting Free Trade
1. Lower prices for consumers
2. More choices
3. Encourages competition
4. Economic growth
5. Stronger international relationships
9All countries have the same chance to compete in international trade without unfair advantages or discrimination.
Equal opportunity (Ensure fair competition among countries )
10Ensuring small countries are not pushed out of global trade by stronger countries using unfair advantages
Protects smaller economies-
112. Ensure fair competition among countries
1. Equal opportunity
2. Protects smaller economies
3. Encourages trust
4. Promotes stable global trade
123. Encourage economic growth and development.
1. Helps countries become richer and improve living standards through trade
2. Increases exports, which brings more income into the country
3. Attracts foreign investment due to stable and fair trade systems
4. Creates more jobs and improves industries and infrastructure
13Functions of World Trade Organization
1. Administers trade agreements
2. Settles trade disputes
3. Forum for negotiations
4. Monitors trade policies
5. Provides technical assistance and training
6. Promotes transparency
14The WTO manages and enforces trade agreements made by member countries to ensure they are properly followed.
Administers trade agreements
15The WTO resolves conflicts between countries regarding trade rules through a structured legal process.
Settles trade disputes
16The WTO provides a platform where countries discuss and improve global trade agreements.
Forum for negotiations
17The WTO reviews member countries’ trade policies to ensure compliance with agreed rules.
Monitors trade policies
18The WTO helps developing countries build skills and capacity to participate effectively in global trade
Provides technical assistance and training
19The WTO requires countries to openly share their trade policies so others can understand and monitor them.
Promotes transparency
20is an international organization that helps countries solve money problems, stabilize their economies, and work together for global financial stability.
The International Monetary Fund (IMF)
21Purpose of The International Monetary Fund (IMF)
1. To ensure stability of the global monetary system
2. To help countries maintain healthy exchange rates and financial balance.
221. To ensure stability of the global monetary system
1. Lend money to struggling countries-
2. Provide policy advice-
23Prevents them from collapsing financially, which could affect other countries
Lend money to struggling countries
24Recommends how to control inflation, spending, and interest rates to keep the currency stable
Provide policy advice
25Regularly checks if countries economy have risky financial practices and warns about possible problems early.
Monitors economic performance
26Guides countries on how to manage their currency so it doesn’t fluctuate too much
Supports foreign exchange stability
27The International Monetary Fund encourages countries to work together on economic issues instead of acting alone.
Promotes teamwork among countries
28Countries can talk, share ideas, and solve global financial problems together.
Provides a discussion platform
29To help countries maintain healthy exchange rates and financial balance.
1. Monitors economic performance
2. Supports foreign exchange stability
3. Promotes teamwork among countries
4. Provides a discussion platform
5. Coordinates economic policies
6. Builds stronger global relationships
30Helps countries align their policies to avoid conflicts and support global stability.
Coordinates economic policies
31Encourages trust and cooperation, making international trade and finance smoother.
Builds stronger global relationships
32is an international organization that provides financial and technical help to countries, especially developing ones, to reduce poverty and improve living conditions.
World Bank
33Purpose of World Bank
1. Reduces poverty
2. Provides financial assistance
3. Supports infrastructure development
4. Promotes economic growth
5. Offers technical advice
34Helps poor countries improve living conditions and reduce poverty.
Reduces poverty
35Gives loans and grants to support development projects.
Provides financial assistance
36Funds projects like roads, schools, hospitals, and clean water systems.
Supports infrastructure development
37Helps countries build strong economies and create jobs.
Promotes economic growth
38Guides countries on how to manage projects and improve their economy.
Offers technical advice
39is an international organization made up of countries that work together to maintain peace, promote cooperation, protect human rights, and support global development.
United Nations (UN)
40Purpose of United Nation
1. Maintain peace and security
2. Promote cooperation among countries
3. Protect human rights
4. Provide humanitarian aid
5. Support development
412. Regional Economic Organizations (Trade Blocs)
Asia
1. Association of Southeast Asian Nations (ASEAN)
2. Asia-Pacific Economic Cooperation (APEC)
3. Regional Comprehensive Economic Partnership (RCEP)
Africa
1. African Union (AU)
2. African Continental Free Trade Area (AfCFTA)
Europe
1. European Union (EU)
2. European Free Trade Association (EFTA)
Americas
1. United States–Mexico–Canada Agreement (replaced NAFTA)
2. Mercosur (MERCOSUR)
3. Organization of American States (OAS – broader role)
42Regional Economic Organizations (Trade Blocs)
Asia
1. Association of Southeast Asian Nations (ASEAN)
2. Asia-Pacific Economic Cooperation (APEC)
3. Regional Comprehensive Economic Partnership (RCEP)
43Regional Economic Organizations (Trade Blocs)
Africa
1. African Union (AU)
2. African Continental Free Trade Area (AfCFTA)
44Regional Economic Organizations (Trade Blocs)
Europe
1. European Union (EU)
2. European Free Trade Association (EFTA)
45Regional Economic Organizations (Trade Blocs)
Americas
1. United States–Mexico–Canada Agreement (replaced NAFTA)
2. Mercosur (MERCOSUR)
3. Organization of American States (OAS – broader role)