Actors in

International
Business: Global
Governance
SECTION II: The Bretton Woods
Organization

Most important IGO’s

 International Monetary Fund (IMF)
 International Bank for Reconstruction and Development (IBRD)
 General Agreement on Tariffs and Trade (GATT)
The World Trade Organization

WTO defines itself as

Negotiating forum
Embodiment of a set of rules and;
Venue for settling disputes
The World Trade Organization

Functions of WTO
 Administers WTO arguments
 Host trade negotiations
 Handle trade disputes
 Monitor national trade policies
 Offer technical assistance and training for developing countries
 Cooperate with other international organization
The World Trade Organization

The WTO’s fundamental beliefs

 There should be no discrimination in the world trade system
 A gradual, negotiated move towards open borders is intrinsically beneficial
 Trade decisions should be transparent and not arbitrary
 Competition is desirable as long as it is fair
 Trade should e used to encourage development and economic reform
The World Trade Organization

Five Principles guide to WTO’s action

 Most favored nation (MFN)
 National Treatment
 Fairness
 Special and Differentiated Treatment for LDC’s
 Dispute Resolution
The International Monetary Fund and
the World Bank
An IGO specializing in crisis lending
Set up to revive the international financial system
Provides temporary funding
SECTION III: Single-purpose
IGO’s

Specialist Organization
Non governmental Organization