Question

1. How have international agreements and organizations influenced economic globalization?


2. How has the World Trade Organization affected people’s lives?

Answer 1

Answer:

1. International Economic Organizations, Developing Country Reforms, and Trade. The three major international economic organizations are the World Bank, the International Monetary Fund (IMF), and the World Trade Organization (WTO).

2. Less tariffs means greater trade. Over the past 20 years, an average tariff reduction of 15% helped to quadruple trade worldwide! That has not only helped to boost local economies but also to increase the global standards for health, security and environment, which in turn increase average life expectancy.