2. Organizations Promoting Internationalism
GLOBAL ECONOMIC ORGANIZATIONS

3. Bretton Woods Agreement
Concerns about rebuilding the global economy after WW II (avoid repeat of Great Depression)
Met in the United States – 44 countries participated (allies of the USA)
Signed agreement to establish rules and institutions for the global economy:
World Bank
IMF – International Monetary Fund
GATT – General Agreement on Tariffs and Trade (later becomes the WTO)

4. World Bank (http://www.worldbank.org/)
Created after World War Two: designed to help rebuild countries damaged by war
Gives loans to countries in financial difficulty
Focus is on reducing poverty by encouraging international trade
Countries must meet certain conditions to get loans:
Reduce debt and government corruption
Promote free market principles (capitalism)

6. Works with the World Bank to provide short-term loans
International Monetary Fund (IMF) (
Works with the World Bank to provide short-term loans
Focus is on reducing poverty through international trade
Monitors exchange rates for world currencies (they help to determine what currencies like the Canadian dollar are worth, which makes it easier to trade internationally)

7. World Trade Organization (WTO) (http://www.wto.org/)
Formed from GATT (General Agreement on Trade & Tariffs)
GATT created after WWII  believed free trade would encourage world peace
Focus of the WTO
Improve trade relations between countries by removing tariffs and trade barriers
Must be a member nation to participate within the WTO
Members must follow rules on trade, and there is a panel that can help to mediate conflicts peacefully
(Link to Video: The Truth Behind the WTO -

8. NAFTA
NAFTA is an example of a trading bloc: group of countries that work together to give each other better trade terms, often a form of free trade
Organizations that are similar to NAFTA include ASEAN (Association of Southeast Asian Nations) and the EU (European Union)

9. Free Trade: reducing or eliminating tariffs and other trade barriers
NAFTA was created as a result of increasing trade between Canada and the United States
Eg. – car manufacturing
AutoPact
Desire was to increase trade across the borders by promoting free trade
Free Trade: reducing or eliminating tariffs and other trade barriers

10. North American Free Trade Agreement (NAFTA) (http://www. international
Canada & US
1994 – NAFTA
Canada & US & Mexico
In discussions – FTAA
(Free Trade Area of the Americas)
Western Hemisphere
FREE TRADE: Reducing or eliminating tariffs and other
trade barriers

11. G-8 – The Group of Eight (http://www.g8.gc.ca/work-en.asp)
The eight major developed nations (strongest economies)
US, Britain, France, Germany, Italy, Japan, Canada, Russia
as of 2008 China is considered an emerging developing nation, as is India so they are part of the G20
Not a formal organization, instead they meet on a regular basis to discuss policy to help influence the foreign policies of member nations
In 2008 they dealt with issues as diverse as what to do about the failure of the Kyoto environmental protocol, and the fraudulent elections in Zimbabwe

12. Created as a way for the leaders of these nations to meet informally
OPEC crisis of 1970s
Often the ministers will meet before the leader’s conference and establish the ideas and protocols the leaders will then support
Concern - protestors

13. Protesting International Organizations
MANY ORGANIZATIONS ESTABLISHED TO RESPOND TO THE NEEDS OF THE POOR OR THE ENVIRONMENT HAVE CHOSEN TO PROTEST AT THESE MEETINGS TO GET THEIR MESSAGE OUT TO THOSE WORLD ECONOMIC LEADERS. INCREASINGLY GROUPS HAVE TURNED TO VIOLENCE IN ORDER TO GET ATTENTION FROM THE MEDIA – THIS ALL CAN BE LINKED BACK TO THE WTO PROTESTS IN SEATTLE IN 1999.

14. WTO

15. Views of globalization

16. Friedman