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The global economic order: challenges for greater democratization

23Mar

By Rodrigo CintraNo Comments

The global economic order: challenges for greater democratization

The current global economic order was structured after the end of World War II. At that time, important international organizations were created that last until today.. It is important to understand their role because they end up impacting countries. Among the leading organizations, the International Monetary Fund (IMF) is one of the most impactful in Latin America. The role of the IMF The International Monetary Fund (IMF) is an international organization created in 1944, with the aim of promoting international monetary cooperation, facilitate international trade, promote exchange rate stability and help member countries in situations of economic crisis. The IMF's main role is to provide loans and technical assistance to help member countries overcome crises. ...

The need to reform the Global Financial Architecture

G-20 meeting (added to Spain and Holland) in 2008 during a meeting in the USA. The constant and increasingly impactful financial crises that have occurred since the last decades of the last century show that a reform of the Global Financial Architecture is necessary.. Before I understand what it means, it is important to know what the global financial architecture is. The global financial architecture can be defined as a set of international agreements and international institutions that promotes the international flow of capital with the aim of facilitating investment and financing international trade.. It is the consolidation of coordinated work (even if informally) of different Multilateral Agreements, Central Banks and Intergovernmental Organizations. Between the...

The paralysis of the WTO or the end of the world economic order that we know

WTO building, in Geneva The recent and profound crisis of the World Trade Organization (OMC) is just the latest sign of the wasting of the world economic order. In opinion article recently published by the Washington Post, the professor in international politics Daniel Drezner foresees the end of the liberal economic order as we know it.[i] In fact, there are indications that the world economy is entering a new (of)order protection-based economic. It is not just the end of liberalism as reasoned by Prof. Drezner, we also run the risk of reaching the end of the principle of economic cooperation. The world economic order we know was forged by iron and fire at the end of World War II and expanded since the end of the cold war. Set in motion in the west to ...