IGOs Flashcards
1
Q
World Bank
A
- reconstruction and economic development after WW2
- development loans to countries to bring areas out of poverty
- US has largest voting - benefits them and US allies
- US has more materials - wider trade network benefits them the most
2
Q
World Trade Organisation
A
- deals with global trade rules between nations
- ensures trade flows smoothly
- pro-free trade to generate wealth for everyone globally - no tariffs
- USA and China benefit - largest income
- capitalist economies benefit most - become more wealthy and can invest wherever they want to
3
Q
IMF
A
- promotes global financial stability
- temporary financial assistance to members experiencing payment difficulties
- loans to countries who are economically struggling
- US receive most votes on decisions as they invest the most money
- no money given to those who oppose the US
4
Q
WEF
A
- promotes globalisation for trade
- independent non-profit organisation
- most wealthy western TNCs can talk with large political leaders to get their own way
- encourages stakeholder capitalism
5
Q
criticisms
A
WB - invested in large infrastructure projects that have large negative impacts on the environment
WTO - only serves interests of multinational corporations and undermines local development
IMF - countries who are allied with the US get loans easily
WEF - encourages stakeholder capitalism, only wealthy TNCs can join discussions
