4.1.5

International Organisations & Globalisation

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International Organisations and Globalisation

Various international political and economic organisations are very important in the advancement of globalisation.

Illustrative background for Bretton Woods institutionsIllustrative background for Bretton Woods institutions ?? "content

Bretton Woods institutions

  • Intergovernmental organisations (IGOs) like the World Trade Organisation (WTO), the International Monetary Fund (IMF) and the World Bank promote free trade policies to encourage FDI and to accelerate globalisation.
  • Since World War 2, these organisations have worked together to remove tariffs and quotas on goods that act as barriers to free trade.
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Bretton Woods institutions cont.

  • As more developing and emerging countries join the organisations, their actions to encourage free trade arguably continue to accelerate globalisation. China joined the World Trade Organisation in 2001.
  • These IGOs are collectively referred to as the ‘Bretton Woods institutions’ after the place in America where they are established.
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BRIC institutions

  • BRIC refers to Brazil, Russia, India and China.
  • New alternatives or rivals to the Bretton Woods institutions are rising as the BRICs gain global influence and set up their own organisations - such as the China Development Bank.
  • In 2015, the BRIC nations set up the New Development Bank to rival the World Bank.
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BRIC institutions cont.

  • By 2017, this New Development Bank had given loans of $1.5 billion dollars to member countries. Most of these loans went on developing renewable energy in these countries.
  • China is particularly influential in Africa, where Chinese money funds lots of infrastructure projects in the likes of Kenya.

Jump to other topics

1Tectonic Processes & Hazards

2Option 2A: Glaciated Landscapes & Change

3Option 2B: Coastal Landscapes & Change

4Globalisation

5Option 4A: Regenerating Places

6Option 4B: Diverse Places

7The Water Cycle & Water Insecurity (A2 only)

8The Carbon Cycle & Energy Security (A2 only)

9Superpowers (A2 only)

10Option 8A: Health & Human Rights (A2 only)

11Option 8B: Migration & Identity (A2 only)

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