1. International organizations and the world economy
WTO
World Bank
IMF
NGOs

2. Levels of development  Developed Nations
 Newly Industrialized Nations (NIC)
 Less Developed Nations (LDC)

3. developed nationS
Nations with relatively high average of material well-being
Maintain an advanced technological infrastructure
shutterstock

4. NEWLY INDUSTRIALIZED COUNTRY (NIC)
ex. SAUDI ARABIA or UNITED ARAB EMIRATES
NEWLY INDUSTRIALIZED COUNTRY (NIC)
Nations undergoing rapid economic growth but has yet to achieve “complete” development.
Much of the population may still be impoverished and/or reliant upon subsistence agriculture.
Economic growth may revolve around one major resource or industry (ex. oil)
shutterstock

5. LESS DEVELOPED COUNTRY (LDC)
Nations with relatively low average of material well-being
Much of the population is impoverished and reliant upon subsistence agriculture
Shutterstock
Shutterstock

6. How do we improve their economies?

7. MULTINATIONALS Corporations that operate in two or more countries
Shutterstock
Shuterstock
Shuterstock

8. MULTINATIONALS PROPONENTS OPPONENTS
cheaper labor means cheaper goods for consumers
exploitation of foreign labor with low wages
“sweatshops”
introduce jobs, technology, and urban growth to LDCs
OFFSHORING:
lost jobs from developed nation to LDC

9. INTERNATIONAL ORGANIZATIONS set up to assist economic growth
 World Trade Organization (WTO)
 World Bank
 International Monetary Fund (IMF)
 Non-Governmental Organizations (NGOs)

10. World Trade organization (WTO)
A trade agreement among over 100 nations that specifies the level of tariffs among the signatories and attempts to resolve trade disputes
WTO
shutterstock

11. World Trade organization (WTO)
 Established in 1995
GATT
 159 member countries
 Uses the rules agreed to in the General Agreement of Tariffs and Trade (GATT) in 1947, later updated in 1994 and 2001, to settle disputes between countries
Shutterstok

12. World BANK
An international organization that makes loans and provides technical expertise to nations.
 188 countries are members of the World Bank
 Established in 1944 (after WWII) to help promote trade and develop economic recovery

13. international monetary fund (IMF)
An international organization established to supervise exchange-rate arrangements and to lend money to member countries having difficulties meeting their financial obligations to other countries
 188 member countries

14. international monetary fund (IMF)
How does it work?
 Surveillance - Monitors country economies and policies to assess risk to global economy
 Training - Provides technical assistance with fiscal policy and banking to member countries
 Loans - Provides financial assistance to those in trouble of meeting their obligations (loans)
(not to begin projects like World Bank does)

15. NON-governmental organization (ngo)
A nonprofit, voluntary organization that works to raise funds to fight poverty, raise humanitarian, environmental, or human rights awareness, and help LDCs build their economies.
 Examples include:
Shutterstock
Shutterstock
Shutterstock
WWF
UNICEF