Role Of Globalization In The World Trade Organization

There are tons of international institutions that play a part in economic globalization. The increase in globalization throughout the world in the last couple of decades is due to many things. I’ll start off by talking about the International Monetary Fund (IMF) and its important ties to globalization. Then I’ll go on to talk about the World Trade Organization (WTO) its importance and the role it plays in globalization with globalization. Lastly, I’ll talk about the World Bank (WB) its importance and its ties to globalization.
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