Professional Documents
Culture Documents
Aldama, Prince Kennex R. The Contemporary World.Nicanor Reyes Sr. St., Sampaloc,
Manila:Rex Book Store, Inc.2018
Globalization is a process of economic exchange in the globe that removes the barriers of the flow
of goods, services, capital, and labor. It is more on a free flow of the wealth to all nations involved.
Global Interstate System is an organized institution that governs international relations for mutual
benefit.
Benefits of the United Nations brought to Globalization
The one who coined the name of the United States, President Franklin Roosevelt is now being
used in the Declaration of the United Nations.
There were only 26 nations representatives pledge their governments to:
1. Use its full resources, military or economic, against those members of the Tripartite Pact
and its adherence with which such government is at war.
2. Cooperate with the government signatory hereto and not to make a separate armistice or
peace with the enemies.
This organization had been allied to fight the Axis powers in the Second World War II. Fifty
countries’ (50) representatives met and held the United Nations Conference on International
Organization to make the United Nations Conference on the International Organization to make
the United Nations Charter officially.
Selected Institutions Associated with World Trade
World Bank is a financial institution that extends financial assistance through loans to countries
interested. It was founded by the United Nations Monetary and Financial Conference or the Bretton
Woods Conference.
World Bank Group
International Bank Reconstruction and Development (IBRD) is an international financial institution
that offers loan to middle-income countries willing to improve their economy.
1. International Development Association (IDA) its primary purpose is to provide loans to
developing countries to reduce inequalities and improve people’s conditions and the
country’s economic growth.
2. International Finance Corporation (IFC) providing loans for private sectors in developing
countries to create markets that open up opportunities for all.
3. Multilateral Investment Guarantee Agency (MIGA) promotes foreign direct investment
(FDI) into developing countries to help support economic growth, reduce poverty, and
improve people’s lives.
4. International Centre for Settlement of Investment Disputes (ICSID) is an international
organization of investors for investment treaties and laws and contracts.
5. International Monetary Fund (IMF) ensures the ability of the international monetary system.
It does so in three ways: keeping track of the global economy and the economies of
member countries; lending to countries with balance of payments difficulties; and giving
practical help to members.
World Trade Organization (WTO)
It regulates international trade’s deals with the rule of trade between nations. Ensured the trade
will flow smoothly, predictably and freely as possible. Acts as a forum in negotiation trade
agreements.
Organization for Economic Cooperation and Development (OECD)
It consists of 35 member countries. Stimulate economic progress and world trade. Providing a
platform to compare policy experiences, seeking answers to common problems, identify good
practices and coordinate domestic and international policies of its members.
Specialized Agencies
1. International Labor Organization is a United Nations agency dealing with labor problems,
particularly international labor standards, social protection, and work opportunities for all.
2. Food and Agriculture Organization of the United Nations (FAO)
a. A specialized agency of the United Nations that leads international efforts to defeat
hunger.
b. Help eliminate hunger, food insecurity and malnutrition
c. Reduce Rural Poverty
d. Make agriculture, forestry, and fisheries more productive and sustainable
e. Enable inclusive and efficient agricultural and food systems
f. Increase the resilience of livelihoods to threats and crises.
3. United Nations Educational, Scientific and Cultural Organization
a. Contribute to peace and security by promoting international collaboration through
educational, scientific, and cultural reforms to increase universal respect for justice,
the rule of law, and human rights along with fundamental freedom.
b. Contribute to building peace