Question

1. How do you think the World Trade Organization

International Monetary Fund and World bank

influences importation in the free trade?

2. Would you agree that global economic integration

is inevitable? Why?

Answer 1

1) The World Bank , World Trade Organisation and International Monetary Fund has important influence over free trade- this statement is true because all of them try to maintained economic growth,peaceful situation in trade and the helping hand over between the countries. Let us discuss each briefly:

World trade organisation:

WTO is the only global International in organisation dealing with the the rules of trade between Nations we can look forward to some of the objectives of WTO that actually helps in trade. First one is maintaining rules between Nations for international trade , to provide forum for negotiation and monitoring further trade, solving disputes between countries over trade, increasing transparency and maintaining corporating behaviour between Nations.

World Bank

World Bank supports,helps and maintains rules and provide space for each nations desicions. Free trade helps the less developed countries to make a development by importing goods from other countries it would be a great beneficiary to these less developed countries. As if we know that World Bank provide loans to the countries for the development purpose especially to the less developed countries.

International monetary fund

International monetary fund provides funds to secure financial stability and help countries in international trade.the major difference between World Bank and IMF is that World Bank provides loans to less developed countries in order to reduce poverty whereas IMF provide funds to make a financial stability for a country.

All these three organisations put forward that they try to provide stability in financial terms as well as in economics terms. The three organisations really influence the international trade directly or indirectly so we can truly say that these three organisations really helps in maintaining a peaceful situation in international trade and they all focus on free trade as if they can help the less developed countries and made a stability.

2) Yes I do agree that the international or the global economic integration is very important because maintaining stability between countries in terms of international trade is really a long-term vision about a super Economy that is fully developed and self-sufficient. If all the countries have a mutual contract then there will be no war and hence we can maintain a peaceful situation. If there is a long term relationship between the countries then every country would be developed and there will not be an imbalance between the state and rather everyone could be self-sufficient and they could produce whatever they want. Inturns unemployment could be reduced. Harmony will be maintained in society.