Economic Globalization

Economic Globalization

1. Bretton Woods Conference

   • Created a new international monetary system
     • -Promotes international trade-Regulate currency-Fixed exchange rate

2. World Bank

   • An agency of the UN controlled by members.
     • Provides loans to less developed countries
       • IMF
         • Monitors exchange rates and provides short term financial assistance
           • Helps countries strengthen their capacity

3. Capitalism

   • An economic and political system in which a country trade and industry are controlled by private owners for profit
     • The private company gets to keep their own profit and they don't need to give it to the monarch

4. Keynes

   • He said that Governments must intervene to regulate Economy

5. Hayek

   • He believed the opposite-society are doomed to fail if governments intrude a free economy will regulate itself and most successful

6. Transnatinol corporations

   • Companies that operate in several countries example is mcdonalds
     • Many transnatinol corporations now make more profit than the gross domestic product. of some nations

7. New Technology and Communication

   • Transformed society and played a big role in Economic Globalization

8. Free Trade

   • Internatinol trade left to its natural course without tariffs,quotas, or other restrictions
     • North american trade agreement.