Role Of Globalization In The World Trade Organization
The International Monetary Fund is an international organization that has been around for about seven decades, the IMF has 188 countries functioning to promote global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. The IMF played a role in globalization by …show more content…
The purposes of the World Trade Organization is to lower trade barriers and encourage countries to trade with each other, encourage fair competitions between countries and endorse trade liberalization to speed up economic growth and economic globalization. Considering most countries have free trade the world trade organization is very important. There are 161 states in the organization. I believe that WTO plays the biggest role in globalization. The reason I say this is because globalization itself is interactions and integration among the people, companies and governments of different nations a process driven by international trade and investment. Globalization is all about of trade and the WTO encourages it. The World Trade Organization is the most important watchdog of trade at an international level it also sets the terms within which regional agreements can be signed. In this way, globalization is managed at world level from a trade