1. Integration of world economic activity  International trade  Transnational corporations (TNC’s)  International trading agreements  Trading blocs e.g. ASEAN, EU  Global movements of capital

2.  International trade can be defined as the exchange of goods and commodities (visible trade) and services (invisible goods) between countries  The current world pattern of trade is complex

3.  World trade is dominated by the OECD countries (Organisation for Economic Co-Operation and Development - 30 members) - set up in 1961 to coordinate international aid for ELDCs as well as a forum for discussion on economic growth and trade (www.oecd.org)  Majority of OECD trade is between member countries, largely in manufactured goods.

4.  Other ‘players’ in global trading: Countries with Centrally-Planned Economies OPEC (oil producing countries) OPEC (oil producing countries) ELDCs especially the NICs (Newly Industrialised Country (Newly Industrialised Country Taiwan, South Korea, Hong Kong and Taiwan, South Korea, Hong Kong and Singapore - Four Tigers) Singapore - Four Tigers)

7. World Trade Organisation (WTO) The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. Essentially, the WTO is a place where member governments go, to try to sort out the trade problems they face with each other.

8.  Traditional pattern of trade between EMDCs and ELDCs is the exchange of manufactured goods produced in EMDCs for foodstuffs and raw materials - this pattern of exchange is influenced by the role of transnational companies

9.  Limited evidence of trade between ELDCs - but will develop in future as trading blocs form e.g. LAFTA (Latin American Free Trade Association) and ASEAN - (Association of South East Asian Nations)  This helps free trade between these countries.

10. World Bank (International Bank for reconstruction and Development (IBRD)  An international finance institution owned by it’s member countries responsible for channelling interest bearing loans and technical assistance to poor countries. The world bank borrows in-turn from world markets

11.  International Monetary Fund (IMF) The IMF is an organization of 184 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty. The IMF can lend money to countries with balance of payment problems.