international organisations in globalisation Flashcards

1
Q

when was international monetary fund

A

1944

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2
Q

what is the role of the international monetary fund (IMF)

A

provide loans (from the rich) to poorer nations, in-return demanding they must have a free-market economy to encourage TNCs to invest

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3
Q

evaluation of international monetary fund

A

rules are controversial
negative consequences for borrowing countires as they may cut education, healthcare funds

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4
Q

when was the world bank formed

A

1944 (bretton woods)

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5
Q

what do the world bank do

A

they provide loans for countries, direct grants to developing countries
$65bn in loans/grants 2014

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6
Q

evaluation of the world bank

A

very American dominated and strict conditions are imposed on countries

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7
Q

when was the world trade organisation (WTO) formed

A

1995

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8
Q

what do the world trade organisation do

A

encourage countries to participate in free tree trade, in hope to abandon protectionism attitudes

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9
Q

evaluation of WTO

A

overall not successful
failed to stop rich countries subsidising national food producers
failed to get 159 members to agree on any trade agreement

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