BSB119 Lecture Notes - Political Union, Economic Union, Trade Diversion
Document Summary
Lecture 12 global instituions and regional economic integration. Un (united nations): international organisation comprising 192 countries charged with keeping international peace, developing corporation and promoting human rights: developed post world war 2, promote high standards of living, employment and conditions of economic and social development. World bank: international organise which promotes economic development primarily by offering low-interest loans to developing nations: significant player in the global economy, funds projects such as building dams and roads. Trade agreement = contract which defines the rules for the conduct of trade: this is governed by the wto, three key functions of the wto: Provide a more orderly and predictable trading environment. Provision of a global forum for negotiation of trade barriers. Provision of rules based system for resolving trade disputes. After wwii, the us and other nations realised the value of freer trade, and established the general.
