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International Economic Integration - Coggle Diagram
International Economic Integration
Globalization
Labor movement
Technology
Across international borders
Growth of trade
The world trade organization
signed in 1947 by 23 countries
Now it has 144 countries
It empowers
To set up and enforce rules regarding international trade
Encourage further trade liberalization
Resolve trade disputes
Ensure transparency in decision making
Cooperate with all major international institutions
Assist developing countries in benefiting fully from international trade
The international monetary fund
Firstly established to manage the Bretton Woods system of fixed exchange rates
Now provides short-term financing on countries that go in balance of payments deficits with the following conditions:
Contractionary Monetary Policy
Contractionary Fiscal Policy
Currency Devaluation
Contractionary Income Policy
Economic Liberalization
The World Bank
Established in 1945
For improving education, reducing child mortality, and achieving other indicators of economic development and improved standards of living through loans, policy advise and technical assistance.
Two types of loans
Investment loans, accounting for approximately 80 percent of total lending -dams, irrigation, health, water and sanitation, communication, transport facilities, etc-.
Adjustment loans, accounting for approximately 20 percent of total lending are not project-related but are redesign to support structural reforms
Economic Integration
also called "regional integration"
Refers to the discriminate reduction or elimination of trade barriers among participating nations.
NAFTA
Mercosur
European Union
Single Market idea