THE GLOBAL

ECONOMY
“Trade is the oldest and most
important nexus among nations.
Indeed, trade along with war has
been central to the evolution of
international relations.”
• Distinguish different interpretations of and
approaches to globalization

• Describe the emergence of global economic,

political, social, and cultural.
How will you spend your budget?
 2,000
SamG – 499.00
Milk Tea – 150
Haircut – 150
Transpo Allowanace – 150
Yosi – 30.00
Load – 100.00
Liptint – 120.00
Book – 500.00
Check-in– 300.00
• Book 10 points
• Pinakamaliit ang nagastos
• Pinakamalaki ang nagastos
Overview: Analyzing the Data
1939-1945 World War 2
Bretton Woods Conference in July
1944
 International Monetary
Fund
The International Monetary Fund (IMF) is an
organization of 189 countries, working to foster global
monetary cooperation, secure financial stability, facilitate
international trade, promote high employment and
sustainable economic growth, and reduce poverty around
the world.
The IMF's primary purpose is to ensure the stability
of the international monetary system—the system of
exchange rates and international payments that enables
countries (and their citizens) to transact with each other.
The Fund's mandate was updated in 2012 to include all
macroeconomic and financial sector issues that bear on
global stability.
 International Bank for
Reconstruction and
The
Development
International Bank for Reconstruction and
Development (IBRD) is a global development cooperative
owned by 189 member countries. As the largest development
bank in the world, it supports the World Bank Group’s mission
by providing loans, guarantees, risk management products,
and advisory services to middle-income and creditworthy low-
income countries, as well as by coordinating responses to
regional and global challenges.
Created in 1944 to help Europe rebuild after World
War II, IBRD joins with IDA, our fund for the poorest countries,
to form the World Bank. They work closely with all
institutions of the World Bank Group and the public and
private sectors in developing countries to reduce poverty and
build shared prosperity.
 General Agreement on Tariffs
and Trade (GATT) and World
Trade Organization (WTO)
The General Agreement on Tariffs and Trade (GATT)
covers international trade in goods. The workings of the
GATT agreement are the responsibility of the Council for
Trade in Goods (Goods Council) which is made up of
representatives from all WTO member countries. The
current chair is Ambassador Stephen DE BOER (Canada).
The Goods Council has 10 committees dealing with
specific subjects (such as agriculture, market access,
subsidies, anti-dumping measures and so on). Again,
these committees consist of all member countries.
Also reporting to the Goods Council are a working
party on state trading enterprises, and the Information
Technology Agreement (ITA) Committee.
 Unilateral Trade Agreement

A unilateral trade agreement is a

commerce treaty that a nation imposes without
regard to others. It benefits that one country
only. It is unilateral because other nations have
no choice in the matter. It is not open to
negotiation.
 Multilateral Trade Order

Multilateral trade agreements are

commerce treaties between three or more
nations. The agreements reduce tariffs and
make it easier for businesses
to import and export. Since they are among
many countries, they are difficult to negotiate.
 International Monetary System

International monetary system refers to a

system that forms rules and standards for
facilitating international trade among the nations. It
helps in reallocating the capital and investment
from one nation to another.
It is the global network of the government
and financial institutions that determine the
exchange rate of different currencies for
international trade. It is a governing body that sets
rules and regulations by which different nations
exchange currencies with each other.
Summary: Analyzing the Data
 Group Investigation:
Newspaper Analysis

 Choose one news article about World

Economy. Article related to our topic.
Make sure that each group will come up with
different articles.
Be ready to share it to the group. You may use
ppt.
 Group Investigation:
Newspaper Analysis

 What is the highlight of the article?

What does it say on Global Market?
What interpretation can you make based on
the data given?
What conclusion can you gain from the
article?