International Monetary Fund IMF, General Agreement on Tariffs and Trade GATT, World Trade Organization WTO, globalization, international trade, economic stability, poverty reduction, monetary regulation
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Abstract
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Abstract
The role of international institutions such as the IMF and GATT in regulating globalization and trade, and their impact on economic stability and poverty reduction.
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[...] What are the purposes of international institutions of globalization? [...]
[...] In the White plan, currencies are defined in a fixed parity to the dollar and no longer in relation to gold as in the Gold Exchange Standard. Only the dollar is convertible into gold (35 dollars for one ounce of fine gold). It is this plan that was adopted, it is the beginning of the supremacy of the dollar and the United States. Subsequently, it is the IMF and the GATT that will be created, these are the new international institutions that for the most part we still know today. III. [...]
[...] All countries that are part of the UN are at the same level as the permanent member countries (Japan, France, United States, Great Britain and Russia). However, a financial power escapes state control, it structures global trade, it is the FMN, it is a company that acts on a planetary scale. It makes direct foreign investments (IDE) and has installations in different countries. IV. Balance In conclusion, we have seen that international institutions structure international exchanges, whether financial or not, as well as globalization. [...]
[...] Secondly, the new international institutions to respond to the need of globalization and peace in the world. II. The monetary organizations The creation of the gold standard (long before the supremacy of the dollar) will lead to the creation of institutions to direct and control the flows. This is a national monetary unit, each holder of a bill can exchange it for gold at the central bank. Gold is the only currency that counts internationally. The exchange rate is defined automatically, so there is no control over the exchange. [...]
[...] The new international institutions: the IMF and the GATT The IMF and the GATT are part of the new international institutions that serve to regulate globalization and trade. They are among the oldest. In fact, it was with the White plan that they were born. The GATT, created in 1947, is a general agreement on customs tariffs; it is innovative because it is based on a liberal doctrine and removes obstacles, prohibits dumping (unfair competition), and establishes a principle of non-discrimination. [...]
