International Organisations and Trading Blocs/Agreements

The onset of the globalisation era has brought about the establishment of a number of key international organisations, and brought into greater light already existing institutions in the global economy. In particular, the World Trade Organisation, the International Monetary Fund, and the World Bank. These global institutions, as well as a small amount of others have varying goals and importance in the world economy, yet most play somewhat of a role in the advancement of …

…winners and losers in the world economy and only through reform and a move away from neo-liberal ideologies can the severe inequality currently present be addressed. Globalisation's pursuit of a world without boundaries has seen the formation of regional trading blocs and agreements throughout the world. Although there is argument between economists as to whether these regional agreements are beneficial to or obstruct free trade, they have enormous importance for nations economically, socially and politically.