4.1 - International Economic Bodies Flashcards
1
Q
What is the role of the IMF?
A
Regulate international monetary policy
Focus on growth + expansion of trade in developing states
2
Q
What is the role of the World Bank?
A
Channel loans to developing economies
3
Q
What is the role of the WTO?
A
Oversees implementation of free trade + removal of barriers
Governance of international trade
4
Q
When were the Bretton Woods players established?
A
IMF - 1946
WB - 1945
WTO - 1995
5
Q
What are the positive impacts of the WTO?
A
Reduces cost of living
Ruling makes business easier
Encourages choice
Stimulates growth
6
Q
What are the negative impacts of the WTO?
A
Rules unfavorable towards developing states
Rules usually favour multinationals
Increased competition
