Economic OrganizationsEconomic Organizations

Ms. ShortMs. Short

WTOWTO

• WTO = World Trade OrganizationWTO = World Trade Organization

• The WTO is a forum where nations meet to The WTO is a forum where nations meet to discuss rules for international trade.discuss rules for international trade.

• Jobs of the WTO include:Jobs of the WTO include:• Acting as a forum for trade negotiationsActing as a forum for trade negotiations

• Creating rules for free & fair tradeCreating rules for free & fair trade

• Settling trade disputesSettling trade disputes

• 153  members as of 23 July 2008153  members as of 23 July 2008

WBWB

• WB = World BankWB = World Bank

• The world bank is made up of five The world bank is made up of five different organizations.different organizations.

• These organizations work to help poor These organizations work to help poor countries improve their economies (this countries improve their economies (this helps raise the standard of living in helps raise the standard of living in developing nations.developing nations.

• They do this through loans and grantsThey do this through loans and grants

WBWB

• Examples of WB work- country snapshotExamples of WB work- country snapshot

• http://geo.worldbank.org/

U.N.U.N.

• U.N. = United NationsU.N. = United Nations

• Promotes higher standards of living, Promotes higher standards of living, full employment, and conditions of full employment, and conditions of economic and social progress and economic and social progress and development in the world development in the world

• Every recognized country is part of the Every recognized country is part of the UN (192)UN (192)

Not Part of the UNNot Part of the UN

• The following territories are excluded as the UN does not The following territories are excluded as the UN does not consider them as part of any member state: consider them as part of any member state: Vatican City (the (the Holy See is a is a UN non-member observer state), the ), the Palestinian territories (Palestine, represented by the (Palestine, represented by the Palestine Liberation Organization, is a , is a UN observer), ), Western Sahara (status in dispute between (status in dispute between Morocco and the and the Polisario Front), and ), and Antarctica (regulated by the (regulated by the Antarctic Treaty System). Territories of ). Territories of states not recognized by the UN are not excluded due to the are not excluded due to the UN's position that they are part of some UN member state, UN's position that they are part of some UN member state, including including Taiwan, as the UN members voted to consider the , as the UN members voted to consider the People's Republic of China as the only lawful representative of as the only lawful representative of China at the UN and therefore the UN does not question its China at the UN and therefore the UN does not question its claim that Taiwan is part of China.claim that Taiwan is part of China.

E.U.E.U.

• E.U. = European UnionE.U. = European Union• Economic and political partnership between Economic and political partnership between

27 democratic European countries27 democratic European countries• Aimed to create prosperity and freedom for Aimed to create prosperity and freedom for

its 495 million citizensits 495 million citizens• Promotes balanced economic and social Promotes balanced economic and social

development development • Has one single currency the EuroHas one single currency the Euro

Countries of the European UnionCountries of the European Union

NAFTANAFTA

• NAFTA = North American Free Trade NAFTA = North American Free Trade AgreementAgreement

• NAFTA is a trade agreement that broke NAFTA is a trade agreement that broke down barriers to trade between Canada, the down barriers to trade between Canada, the U.S. & Mexico.U.S. & Mexico.

• It has had both positive and negative effects It has had both positive and negative effects on these countrieson these countries

IMFIMF

• IMF = International Monetary FundIMF = International Monetary Fund• The IMF has 186 member countries. It is a The IMF has 186 member countries. It is a

specialized agency of the United Nations specialized agency of the United Nations but has its own charter, governing structure, but has its own charter, governing structure, and finances. Its members are represented and finances. Its members are represented through a quota system broadly based on through a quota system broadly based on their relative size in the global economy.their relative size in the global economy.

IMFIMF

• The IMF has 3 primary jobs:The IMF has 3 primary jobs:• Surveillance – of economic Surveillance – of economic

conditionsconditions• Financial Loans – short term loans to Financial Loans – short term loans to

countries to pay outstanding debtscountries to pay outstanding debts• Technical Assistance – train and Technical Assistance – train and

advise national governments so that advise national governments so that they can better run their economiesthey can better run their economies

ResourcesResources

• https://www.cia.gov/library/publications/https://www.cia.gov/library/publications/the-world-factbook/geos/ee.htmlthe-world-factbook/geos/ee.html

• http://www.wto.org/english/thewto_e/http://www.wto.org/english/thewto_e/whatis_e/tif_e/org6_e.htmwhatis_e/tif_e/org6_e.htm

• http://www.imf.org/external/about/http://www.imf.org/external/about/overview.htmoverview.htm