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Mind Map (World Trade Organization (The goal is to help producers of goods…
Mind Map
World Trade Organization
The goal is to help producers of goods and services, exporters and importers conduct their business.
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It is a global international organization that is formed by a secretariat of about 700 people and it is all coordinated by the WTO- Director General. There is a ministerial Conference, there is a general committee and its subsidiary committees.
There are a total of 164 member of which 117 are developing countries or separate customs territories.
The world trade organization is in charge of the rules of trade between nations. It is a forum for governments to negotiate trade agreements and where they can settle trade disputes.
The reason why the WTO is important is because it is the only global international organization that deals with the rules of trade between nations and it works as a forum to negotiate trade agreements and other disputes.
The predecesor of the WTO is the GATT which is the General Agreement On Tariffs and Trade. It was formed in 1948 after WWII and it was intended to boost economic recovery after war. After that the WTO was formed in 1995.
World Bank
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They have two main goals
End extreme poverty by decreasing the percentage of people living on less than $1.90 a day to no more than 3%
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Providing financing, advice, and research to developing nations to aid their economic advancement.
It's important because it borrows money on global markets to lend to developing countries and allowed it to lend on favorable terms
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IMF
It's formed by 189 member countries, 150 nationalities represented by staff, 24 executive directors representing the 189 member countries, bilateral and multilateral financial partners.
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Christine Madeleine Odette Lagarde, is a French lawyer, currently serving as the managing director of the IMF
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It works to foster global monetary cooperation, secure the financial stability, facilitate international trade, promote high employment and sustainable development and reduce poverty worldwide.
It's in charge to confront enormous economic challenges, deal with turbulence in emerging markets, assist countries making the transition from central planning to a market economy, and promote growth and poverty reduction.
The Keynes Plan and the White Plan were the predecessors of IMF, these were plans meant to create monetary stability, thanks to this, a conference was made and the IMF was created.
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Names: Carolina López Flores, Ximena Guzmán Cuesta and Fernanda Lorenzo Pérez