Orgs 8 Notes - Trifecta of supernational organizations - WTO: world trade organization o Not a trade block o Not a business or business agreement o Has 153 members o Helps facilitate trade Not the nuts and bolts o Oversees agreements between individual countries o Kind of protested a little bit in the modern world Why is that? They can fine a country and regulate control of trade worldwide Force of globalization All countries are either in WTO or want to become members of the WTO If we get into this club we can do it more and better People protest because it is globalization and people are anti- globalization All look at WTO as a focus for their rage o It itself is not a trade block, it just oversees the trade - IMF: international monetary fund - World Bank - They were both started up just after world war 2 - They were originially kind of conceived as being under the umbrella of the UN - They are really full on independent businesses - They are still attached by name - IMF and world bank are FOR PROFIT o They are banks that lend money but they want the money back at some point so they charge interest o It is countries that get together and started these two banks o Run like a business entitity o Theyre not a trade block or overseeing anything, they lend money o Most countries are in both, The countries who have pull and make most money are the richest countries; they can put the most money into the bank G7 and G8 states created the IMF and world bank
They were the richest and had the most money to put in physically to the bank They had the most money to put into the kitty for IMF or world bank Beaucse they contribute the most tthey have a lot of pull on who they lend to and where the interest comes back to - IMF: o Lends money to governments to stabilize economies and currencies Lets say government is about to go bankrupt The IMF will lend you money to save your ass They want the money back eventually with interest but they will give you the money to save your ass - World Bank o Eradicating poverty Lends money for very specific projects to do specific things They have disease eradication programs Vaccination programs Or to build hydroelectric damn Just like IMF the world bank lends money with the expectation of getting the money back with interest - Well, that sounds pretty good!! They are actually much maligned o There are lots of protestors Liberal college kids Anti globalization Poor countries hate the IMF and world bank Because the IMF (and world bank) has a lot of leverage to get the money back o Its like a credit card, but you can’t just not give the money back o The IMF has a lot of power to go into a country and restructure the economy and cut government spending Austerity measures o They will make you cut spending on education and healthcare and make you sell more oil - Why is IMF maligned?
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- Spring '08
- Nuclear weapon, International Atomic Energy Agency