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International Trade - Coggle Diagram
International Trade
1. Trading blocks
Definition
Group of nations
Specific geographical area
Promote
free trade
Remove trade barriers
among members
Common trade policy
Main trading blocks
EU
(European Union)
EFTA
(European Free Trade Association)
NAFTA
(North American Free Trade Agreement)
APEC
(Asia-Pacific Economic Cooperation)
MERCOSUR
(Southern Common Market)
ASEAN
(Association of South-East Asian Nations)
OPEC
(Organization of the Petroleum Exporting Countries)
COMMONWEALTH
2. International Trade Organizations
The International Monetary Fund (IMF)
1945 - UN Conference in Bretton Woods
189 member countries
specialised agency of the UN
aim
promote
global growth
economic exchange rate stability
provides
financing
for member countries in economic difficulties
helps developing nations reduce poverty
The World Bank
1944 (Bretton Woods UN Conference)
Help reduce poverty
Reconstruction and development after World War II
Provides
low-interest loans and grants
Investment areas
education
infrastructure
health
agriculture
The World Trade Organization (WTO)
1995
Trade rules between nations
Agreements from
previous negotiations
Responsibilities: administering WTO agreements
Trade disputes
Provides help and training for developing countries.