Market-Integration.pptx nsnsjsjd ndndmdkek

This was the first time check out the 33

1. MARKET INTEGRATION

2. * What can you see in these pictures? Did you experience these? * What is the current state of the market in your municipality?

3. MARKET INTEGRATION - a term that is used to identify a phenomenon in which markets of goods and services that are somehow related to one another being to experience similar patterns of increase or decrease in terms of the prices of those products - a situation in which the prices of related goods and services sold in a defined geographical location also begin to move in some sort of similar pattern to one another

4. THE BRETTON WOODS SYSTEM -established after WW II Bretton Woods - a small tourist spot in the mountains of New Hampshire, USA -There, the delegates gathered to design a new global economic system.

5. FEATURES OF THE BRETTON WOODS SYSTEM

6. The features of the Bretton Woods system are as follows: US dollar-based system Officially, the Bretton Woods system was a gold-based system which treated all countries symmetrically, and the IMF was charged with the responsibility to manage this system. An adjustable peg system This means that exchange rates were normally fixed but permitted to be adjusted infrequently under certain conditions.

7. Capital control was tight This was a big difference from the Classical Gold Standard of 1879-1914, when there was free capital mobility. Although the US and Germany had relatively less capital-account regulations, other countries imposed severe exchange controls. Macroeconomic performance was good In particular, global price stability and high growth were simultaneously achieved under deepening trade liberalization.

8. INTERNATIONAL INSTITUTIONS in the CREATION of GLOBAL ECONOMY World Trade Organization (WTO) - a multilateral organization headquartered in Geneva, Switzerland with 152 member nations as of 2008 -the only global international organization dealing with the rules of trade between nations -The goal is to ensure that trade flows as smoothly, predictably and freely as possible.

9. World Trade Organization (WTO) -It operates a global system of trade rules, acts as a forum for negotiating trade agreements, settles trade disputes between its members and it supports the needs of developing countries. WTO operations are premised on the neoliberal idea that all nations benefit from free trade and open trade and it is dedicated to reducing and ultimately eliminating barriers to such trade.

10. International Monetary Fund (IMF) - created on 1945 which is based in Washington, D.C. -governed by and accountable to the 189 countries that make up its near-global membership -tracks global economic trends and performance, alerts its member countries when it sees problems on the horizon, provides a forum for policy dialogue, and passes on know-how to governments on how to tackle economic difficulties

11. International Monetary Fund (IMF) -focuses on the functioning of the international monetary system, and on promoting sound macroeconomic policies as a precondition for sustained economic growth -provides policy advice and financing to members in economic difficulties and also works with developing nations to help them achieve macroeconomic stability and reduce poverty

12. World Bank (WB) - set up in 1944 as the International Bank for Reconstruction and Development to act as facilitator of post-World War II reconstruction and development -created to help restore and sustain the benefits of global integration, by promoting international economic cooperation - one of the world’s largest sources of funding and knowledge to support governments of member countries in their efforts to invest in schools and health centers, provide water and electricity, fight disease and protect the environment

13. World Bank (WB) - not a ‘bank’ in the common sense. The World Bank is an international organization owned by the 184 countries both developed and developing -Its goal is to reduce poverty and to improve the living standards of the people in low and middle-income countries.