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    The document summarizes several key global economic organizations including their founding dates and functions: 1) The Bretton Woods system was established in 1944 to promote exchange rate stability, prevent competitive currency devaluations, and encourage economic growth. 2) GATT, founded in 1947, aimed to reduce tariffs and other trade barriers to promote free trade. 3) OAPEC imposed an oil embargo in 1973 in response to US support for Israel during the Yom Kippur war. 4) The IMF, formed in the early 1970s, serves as a global lender of last resort to prevent individual countries from facing credit crises. 5) The WTO, established in

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    The document summarizes several key global economic organizations including their founding dates and functions: 1) The Bretton Woods system was established in 1944 to promote exchange rate stability, prevent competitive currency devaluations, and encourage economic growth. 2) GATT, founded in 1947, aimed to reduce tariffs and other trade barriers to promote free trade. 3) OAPEC imposed an oil embargo in 1973 in response to US support for Israel during the Yom Kippur war. 4) The IMF, formed in the early 1970s, serves as a global lender of last resort to prevent individual countries from facing credit crises. 5) The WTO, established in

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    6 views1 page

    TCW S Activity 2

    Uploaded by

    Cjay Alvarez
    The document summarizes several key global economic organizations including their founding dates and functions: 1) The Bretton Woods system was established in 1944 to promote exchange rate stability, prevent competitive currency devaluations, and encourage economic growth. 2) GATT, founded in 1947, aimed to reduce tariffs and other trade barriers to promote free trade. 3) OAPEC imposed an oil embargo in 1973 in response to US support for Israel during the Yom Kippur war. 4) The IMF, formed in the early 1970s, serves as a global lender of last resort to prevent individual countries from facing credit crises. 5) The WTO, established in

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    © All Rights Reserved
    Download as ODT, PDF, TXT or read online from Scribd
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    Post_Lecture_Activity

    Name: Kristine May C. Alvarez


    Course: BSIT I-2

    The Global Economy

    Direction: Identify the various global players as well as their roles.

    Organization Date Founded Function


    Those at Bretton Woods
    BRETTON WOOD -July 1944 envisioned an international
    SYSTEM monetary system that would
    ensure exchange rate
    stability, prevent competitive
    devaluations, and promote
    economic growth.
    Its main purpose was to
    GATT (GENERAL reduce tariffs and other
    AGGRIMENT IN TARRIFS -In 1947 hindrances to free trade.
    AND TRADE )

    OAPEC's Imposition of embargo in


    -January 9 ,1968 response to the decision of
    US and other countries to
    resupply the Israeli military
    with the needed arms during
    the Yum Kippur war.

    IMF (INTERNATIONAL Global lender of last resort to


    MONETARY FUND prevent individual countries
    from spiraling into credit
    -In early 1970s crisis

    WTO (WORLD TRADE To ensure that trade flows as


    ORGANIZATION) smoothly, predictably and
    January 1, 1995 freely as possible.

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