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The Expansion of Economic Globalization. International Agreements and Organizations Chapter 11. World Trade Organization (WTO). Is the only organization dealing with global rules of trading Its job is to settle trade disputes between countries

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the expansion of economic globalization

The Expansion of Economic Globalization

International Agreements and Organizations

Chapter 11

world trade organization wto
World Trade Organization (WTO)
  • Is the only organization dealing with global rules of trading
  • Its job is to settle trade disputes between countries
  • It also organizes trade negotiations and meetings
  • If member nations are found guilty of trade violations, those members could face trade sanctions or expulsion from the group
group of eight g8
Group of Eight (G8)
  • An informal group of the 8 major industrial powers – Canada, France, Germany, Italy, Japan, United Kingdom, U.S., Russia (1998)
  • G8 leaders meet every year to discuss economic and foreign policies
  • A very powerful group – have nearly 50% of the vote in the World Bank and Int. Monetary Fund
  • Are huge supporters of economic globalization
slide4

Because of this, the G8 is often accused of being “elitest” and unconcerned about the effects of world trade on poorer nations

  • Protests are common during G8 summits by anti-globalization activists
  • It is not surprising that security is extremely tight during these summits
slide5

China, India, African and Latin American countries not part of the G8

  • Many protesters feel these countries should be included
    • Reasons – fastest growing economies, fastest growing populations
slide6
CIDA
  • Canadian International Development Agency
  • Government controlled – responsible for administering aid efforts to less developed countries
  • CIDA has contributed money/aid to countries that have experienced natural disasters – ie – earthquakes/hurricanes
  • CIDA sponsors medical personal, farmers, teachers, technicians, etc. to help people in poorer countries find lasting solutions to their problems
  • Also promotes human rights, democracy and “good governing practices” in less developed nations