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International Monetary and Trade Organization
 

International Monetary and Trade Organization

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Brief History of International monetary and tradeorganization

Brief History of International monetary and tradeorganization

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    International Monetary and Trade Organization International Monetary and Trade Organization Presentation Transcript

    • International Economic Organization “ How the world survives After Economic Crisis"
    • The Great Depression and World War II
      • Fall of NYSE in 1929 led to The Great Depression on global economy.
      • Rise of Neo-Nationalist party as Fascist and NAZI.
      • Decline of international trade
      • Increase of tax barrier and tariff.
      • Axis Power declared war on Allied Army
      • War ended in Europe in 1944,
      • and Pacific Front in 1945 after 2 Nuclear bombardments in Japan.
    • Bretton Woods Agreement
      • Develop from Atlantic Charter 1941
      • United Nations Monetary and Financial Conference for establishment of New World Monetary Policy after WW II at New Hampshire, USA in 1944
      • John Meynard Keynes and Harry Dexter White compromised on Economics theory to rebuild and reform economy after The Great Depression and WWII
      • 44 Allied nation agreed to found 3 International financial and Trade organization
      • IBRD (World Bank Group)
      • GATT (WTO)
      • IMF
    • Bretton Woods System
      • Intergovernment intervention
      • Reconstruction of Europe (Marshall Plan)
      • Fixed exchange rate of currency based on gold standard
      • Create global economic security
      • Prevent Financial trade deficit
      • Open global free market
      • US Dollar as the “Reserve Currency”
    • World Bank Group
      • World Bank Group Headquarter in Washington DC
      • Found as International Bank for Reconstruction and Development(IBRD) on 27 December 1945
      • Later merged as World Bank Group with
      • IDA : International Development Association
      • IFC : International Finance Corporation
      • MIGA : Multilateral Investment Guaruntee Agency
      • ICSID : International Center for settlement of Investment Disputes
    • World bank Executives and members
      • President : Robert B. Zoellick
      • Board of Executive Director
      • Economy size of nation scaled as World Bank share and voting power.
      • USA as largest 16.41%
      • Japan 7.81%
      • Germany 4.49%
      • Great Britain and France 4.31%
      • Members
      • 38 Founding members in 1945
      • 185 IBRD members
      • 168 IDA members
      • 181 IFC members
      • 173 MIGA members
      • 143 ICSID members
      • Only IBRD members can join other part of World Bank executive position.
      • IBRD member also count as IMF member.
      • Latest member : Montenegro
      • Member in apply : Greenland
      • All UN members except : North Korea, Cuba, Monaco, Andorra, Liechtenstein, Nauru, Tuvalu.
    • Missions and Functions
      • Mission on Millennium Development Goals
      • Build capacity of government and officials
      • Infrastructure creation
      • Development of financial system
      • Combating corruption
      • Research, consultancy and training
      • IBRD : offer 15-20 years loan to developing country for infrastructure and education building, Issue AAA- bonds and fundraising.
      • IDA : offer 35-40 years loan with 10 years of interest-free and grants.
      • IFC : offer corporate loans and local investment.
      • MIGA : Insurance on non-investment and trade risks.
      • ICSID : Information support, analysis and data research.
    • World Bank and Thailand
      • Kingdom of Siam joined IBRD membership on May 3 1949
      • First development loan for infrastructure rebuilding in 1950
      • Total loan for Thailand around 1950-2003 is 7,000 M$ and 90 M$ grant
      • Loans from World Bank used for Dam building, University establishments, highway construction and accommodation improvements
      • IFC issue corporate loans to BTS and Bamrungrat Hospital
      • Nowadays, Thailand is out of World Bank loans and change to state of co-operation for development after total loan repaid in 2003
    • Criticism
      • US dominance on president nomination
      • Anti-pluralism and local education
      • Allegation on MNC interest supporting
      • Issue loans and grants to Military dictatorship government
      • President scandals and sexual harassment
      • Neo-cons and Neo-libs intervention
    • International Monetary Fund (IMF)
      • Found on July 1944 after Bretton Woods Agreement
      • Operation in 1947 as specialized Agency of UN
      • Headquarter in Washington DC
    • IMF Executives and members
      • Managing Director : Dominique Strauss Kahn
      • Executive directors council from member nations
      • Voting power from supporting fund by gold reserve
      • EU has largest voting power
      • USA as second but biggest single nation power 7.09%
      • 39 founding members after Bretton woods, 1944
      • 27 operation members after establishment in 1947
      • 185 actual members
      • IBRD members count as IMF members
    • Missions and Functions
      • Challenge current missions
      • Addressing global financial crisis
      • Limiting high food and fuel price impact
      • Getting sovereign wealth fund consensus
      • Reducing global payment imbalance
      • Stabilizing global exchange rate
      • Tracking global trend
      • Analyzing economic impact of global warming
      • Organization functions
      • Surveillance economic and financial development
      • Issue loans to country with financial crisis
      • Provide technical assistance
      • Research and collect statistic data
      • Create standard and code
      • Fight against money laundering and terrorism
      • Fundraising from bonds and gold reserve guarunteed
    • Getting help from IMF?
      • Structural Adjustment Program(SAP)
      • Stabilization
      • De-regulation
      • Liberalization
      • Privatization
    • IMF and Thailand
      • Joined membership on May 3 1949
      • Bank of Thailand director as Executive director
      • stand-by loan 4,431 M$ from 1978-2003
      • Tom yam koong crisis structural adjustment program 2,500 M$
      • Total repaid in July 2003 before deadline 2 year
      • Join NAB to lending for IMF 340M$ in 2003
    • Criticism
      • Conditionalities order
      • US dollar dominance
      • Failure in Argentina and Thailand cases
      • Loan scandals
      • Dictatorship support
      • Covered high-impact research data
      • Opposed by Anti-globalization group
    • World Trade Organization
      • WTO replaced GATT(General Agreement on Tariff and Trade on January 1 1995
      • Driven from GATT Uruguay round negotiation
      • Now ongoing in Doha round
      • Headquarter in Geneva, Switzerland
    • Development from GATT
      • 1 st GATT Negotiation in Geneva : signing GATT and concessions of 45,000 tariffs in 23 countries
      • 2 nd Annecy round, France
      • 3 rd in Torquay round, England : cut 25% tariffs
      • 4 th in Geneva II round : admission of Japan
      • 5 th Dillon round, Geneva
      • 6 th Kennedy round, Geneva : anti-dumping issue
      • 7 th Tokyo round, Japan : non-tariff measure and framework agreements
      • 8 th Uruguay round, Uruguay : declaration of WTO, intellectual property
      • 9 th Doha round, Qatar : transformation and unification of global trade, Labor standard, investment transparency, patents
    • WTO Ministerial conference
      • 1 January 1995 WTO establishment in Marrakesh Agreement
      • Singapore conference 1996, Singapore
      • Geneva conference 1998, Switzerland
      • Seattle conference 1999, USA
      • Doha conference 2001, Qatar
      • Cancun conference 2003, Mexico
      • Hong Kong conference 2005, Hong Kong
    • WTO Executives and structure
    • WTO members
      • 23 Founding members from GATT
      • 81 Founding members in WTO declaration 1995
      • 153 actual members
      • Latest members : Ukraine and Cape Verde Island, joined on May 16 2008
      • Members in Power : People’s Republic of China, EU, USA, Japan, India, Brazil, Russia, Germany, Italy, France, Great Britain
    • Principles, Missions and Functions
      • WTO Principles on Trade and Tariff
      • Non-discrimination
      • Reciprocity
      • Binding and enforceable commitments
      • Transparency
      • Safety valve
      • Missions
      • Free Trade on Goods
      • Free Trade on Services
      • Prevent violation on Intellectual property rights
      • Functions
      • Oversees trade agreements
      • Provides forum for negotiations
      • Decrease trade barricades
      • Panel over trade conflict between member nation
      • Providing information
    • WTO Important Agreements
      • Agreement on Agriculture(AoA)
      • General Agreement on Trade in Services(GATS)
      • Trade-Related Aspect on Intellectual Property Rights(TRIPS)
      • Sanitary an Phyto-Sanitary Agreement(SPS)
      • Agreement on Technical Barrier to Trade(TBT)
    • WTO Groups for Negotiation
      • Cairns : Agricultural export countries
      • G-10 : Largest Agricultural products importer
      • ACP : African Caribbean and Pacific countries
      • LDCs : Least Developing Countries
      • LLDC : Landlocked Developing Countries
      • Core Group : Developed Countries on Services negotiation
      • AD Friends : Countries effected by Anti-Dumping Agreement
      • GI : Geological Indication goods
      • C-4 : 4 African countries on Cotton issue
      • NAMA-11 : Non-Agricultural Market Access(Mining, Forestry, Fishing and Manufacturing Goods)
      • Friends of Fish : Anti Over-fishing and whale hunting
    • WTO and Thailand
      • Thailand joined WTO on December 28 1994
      • 59 th membership, as founding member
      • Decrease 2,300 Tariff and trade barrier from 1994-2005
      • Allied with CAIRNS in AoA
      • Allied with Norway Canada and Japan in AD Friends Group to negotiate AD Agreements
      • Allied with EU and India in GI
      • Allied with Developing countries in Doha, Cancun and Hong Kong
      • Conflict and concillation in Tuna Export to EU
      • Shrimp export to EU and USA negotiation
      • Nominate Dr.Supachai Panitchpakdi for Director-General in 2002
      • After failure of Cancun ministerial conference, Thailand opened FTA in dual co-operation with People’s Republic of China, USA, Japan, Australia, Latin-America and India in ACD, APEC and ASEAN+3 forum
    • Controversial Issue and Criticism
      • Conflict between developing countries and developed countries
      • Anti-dumping policy
      • Farmers support
      • Intellectual property rights
      • Software piracy
      • Natural resource consumption
      • Global warming effects
      • Unrepresentative decision making
      • Conditional requirements of membership
      • Less interested in Labor and human right problems
      • Underestimate environmental topics
      • Protect developed countries benefits
      • Violation on protesters
    • References
      • http://www.worldbank.or.th
      • http://www.worldbank.org
      • http://en.wikipedia.org/wiki/World_Bank
      • http://www.midnightuniv.org/midnighttext/009908756 . html
      • http://www.imf.org/external/
      • http://www.imf.org/external/country/THA/index.htm
      • http://www.bot.or.th/Thai/AboutBOT/index/Pages/IMF_index.aspx
      • http://en.wikipedia.org/wiki/IMF
      • http://www.wto.org/english/thewto_e/thewto_e.htm
      • http://www.thailandwto.org/
      • http://www.mfa.go.th/web/1242.php
      • http://isc.ru.ac.th/data/PS0003985.doc
      • http://www.nidambe11.net/ekonomiz/document/worldtrade_org.doc