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International environment policy - Assignment Example

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Some of the factors include: (I) increase in standard of living where economic globalization enable the developing nations to access foreign lending. Where countries use the money…
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International Environment Policy International Environment Policy Economic globalization leads to positive and negative effects in the developing countries. Some of the factors include: (I) increase in standard of living where economic globalization enable the developing nations to access foreign lending. Where countries use the money selectively there will be inequality since not all citizens will participate in the benefits. (II) Access to new markets where globalization can lead to free trade between countries. Access to new markets help companies in innovation. (III) Widening disparity in incomes where globalization will reduce unemployment while increasing a wage gap between the educated and those that are not.
(2) World Bank began its operations at Bretton Woods in 1944; at that time, the Bank intended to assist the European countries to rebuild themselves after the Second World War. Some of the purposes of the bank include: (I) Overcome poverty to spur growth to the poor countries mostly in Africa. (II) To offer reconstruction of the poor countries as they come out of war to end extreme poverty. (III) Spur governments to address communicable diseases international financial crisis, promote free trade, and prevent climate change.
(3) IMF opened its doors in July 1944 at Bretton Woods, New Hampshire. Forty-four different countries agreed to create a body to oversee economic cooperation, prevent financial turmoil and currency devaluations. Two years on 46 nations met and agreed to establish IMF that currently has 188 member nations. IMF sets the global monetary policy to foster monetary stability, fix balance of payments issues, and facilitate trade. IMF allows member nations to access short term financing that can reduce the poverty rates.
(4) Mission of IMF include: to oversee the international monetary system, promote exchange stability, assist the member states in development agenda, supplement currency reserves using special drawing rights. The organization has $215billion at its disposal and a staff of 2300 from 182 member countries. The mission of World Bank include promote economic development on the poor countries, assist countries using long-term financing, provide the poorest countries with special financial assistance, and encourage the development of private enterprises. The organization has a total of $184 billion with a staff of 7000 from 180 member countries.
(5) The Organization of the Petroleum Exporting Countries (OPEC) began its operation during the 1960 Baghdad Conference. The five founding members included Venezuela, Iran, Saudi Arabia, Kuwait, and Iraq. Nine more members have joined before the organization suspended its membership in 2009. The mission of OPEC is similar to the statute that states that its core intent is to unify and coordinate petroleum policies in Member Countries to stabilize the oil markets. Currently the organization has 12 Member Countries. The organization statute distinguishes between Founder Members and Full Members.

References
Eckes, A. (2013). The Seamy Side of the Global Economy. Global Economy Journal Read More
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