3. The economic dimension of globalization

2020 ◽  
pp. 38-63
Author(s):  
Manfred B. Steger
Keyword(s):  
World Trade ◽  
Chinese Economy ◽  
Economic Dimension ◽  
The World Bank ◽  
The World ◽  
History Of ◽  
Financial Transactions ◽  
Second World ◽  
The International Monetary Fund

Economic globalization refers to the intensification and stretching of economic connections across the globe. ‘The economic dimension of globalization’ gives a brief history of the emergence of the global economic order. Towards the end of the Second World War, the Bretton Woods Conference laid the foundations for institutions such as the International Monetary Fund, the World Bank, and World Trade Organization. In the 1980s, rising neoliberalism led to the deregulation of financial transactions. Significant developments include the internationalization of trade, the increasing power of transnational corporations, and the enhanced role of international economic institutions. We have recently experienced setbacks like the 2007–10 recession and the slowdown of the Chinese economy.

scholarly journals The world trade organisation and Human Rights: The role of principles of Good Governance

2017 ◽  
Vol 11 (2) ◽  
pp. 87
Author(s):  
Jeroen Denkers ◽  
Nicola Jägers
Keyword(s):  
Human Rights ◽  
World Trade ◽  
Good Governance ◽  
World Trade Organisation ◽  
International Organisations ◽  
The World Bank ◽  
The World ◽  
Protection Of Human Rights ◽  
The International Monetary Fund

The present article attempts to determine the role of principles of good governance in the discussion regarding the World Trade Organisation (WTO) and its human rights accountability. It shows that the WTO as an organisation cannot be compared to other international organisations that are more autonomous such as the International Monetary Fund (IMF) or the World Bank. This does not mean, however, that the WTO has no autonomous powers at all. This contribution attempts to make clear what these activities are and how they may affect the protection of human rights. The implementation of good governance principles in international organisations can be considered a sine qua non for the realisation of human rights. Therefore, it will be examined what role the principles of good governance plays within the WTO. More specifically, the focus will be on how the good governance principles of transparency and participation can contribute to sensitising the organisation for human rights considerations.

Trade in electricity under WTO and EAEU Law: compatibility of two legal regimes†

2020 ◽  
Vol 13 (2) ◽  
pp. 129-140
Author(s):  
Daria Boklan ◽  
Olga Belova
Keyword(s):  
World Trade Organization ◽  
Electricity Market ◽  
World Trade ◽  
Legal Order ◽  
Member States ◽  
Eurasian Economic Union ◽  
The World ◽  
History Of ◽  
Economic Union

Abstract Accession of Russia and Kazakhstan to the World Trade Organization (WTO) constitutes a landmark event in the history of this organization, especially in relation to trade in energy, in general, and trade in electricity, in particular. As a result, the role of the WTO in regulating trade in electricity has increasingly grown. However, the Treaty on the Eurasian Economic Union, a treaty that binds both Russia and Kazakhstan, necessitates additional regulation for trade in electricity, concurrent with law of the WTO. Recently, this treaty was amended by the Protocol on Common Electricity Market on 1 July 2019. As a result, compatibility issues between the rules of the WTO and the Eurasian Economic Union arise. This article concludes that the law of the WTO can be relevant to trade in electricity between Member States of the Eurasian Economic Union and third countries because of the specific place of the rules of the WTO under the Eurasian Economic Union legal order.

Political Economy of Migrant Labor in U.S. History

2017 ◽  
Author(s):  
Immanuel Ness
Keyword(s):  
World Bank ◽  
World Trade ◽  
Western Europe ◽  
Migration Policy ◽  
Migrant Labor ◽  
The World Bank ◽  
The World ◽  
Rapid Pace ◽  
Historical Comparative ◽  
The International Monetary Fund

This chapter provides a historical comparative analysis of U.S. migration policy and examines why foreign migrant labor is growing at a rapid pace. In 1993, the Washington Consensus, the World Trade Organization (WTO), the International Monetary Fund (IMF), and the World Bank—multilateral financial institutions controlled by corporations in North America and Western Europe—established a new policy that would impose harsh penalties on any country that closed its borders to foreign trade, thereby setting the stage for monetary crises and high unemployment. That labor has no control over these organizations more than suggests the dire predicament that workers and unions confront today.

Defining Accountability Up: the Global Economic Multilaterals

2004 ◽  
Vol 39 (2) ◽  
pp. 132-158 ◽  
Author(s):  
Miles Kahler
Keyword(s):  
World Trade Organization ◽  
World Bank ◽  
International Monetary Fund ◽  
World Trade ◽  
Democratic Accountability ◽  
The World Bank ◽  
The World ◽  
National Governments ◽  
The International Monetary Fund

AbstractCritics of the global economic multilaterals (GEMs) – the International Monetary Fund, the World Bank, and the World Trade Organization – allege that these organizations fail the test of democratic accountability. Two distinct measures of democratic accountability have been applied to the GEMs. To the degree that these organizations display ‘accountability deficits’, those deficiencies are the result of choices by the most influential national governments. Three techniques have been deployed to enhance the accountability of the GEMs: transparency (more information for those outside the institution), competition (imitation of democratic accountability) and changes in rules of representation (accountability to stakeholders rather than shareholders). Each of these may impose costs, however, and may conflict with other valued aims of the organizations.

The Role of World Bank in Global Development

2014 ◽  
pp. 56-64
Author(s):  
Ismail Erkan Çelik ◽  
Ümit Hacıoğlu ◽  
Hasan Dinçer
Keyword(s):  
World Bank ◽  
World Trade ◽  
Developed Countries ◽  
Global Development ◽  
Structural Problems ◽  
Structural Improvement ◽  
The World Bank ◽  
The World ◽  
Limited Scale

In global development it has been observed that the World Bank sources have been allocated on a limited scale by developed countries as not all countries have been included in the process at the same rate. The efforts of the World Bank to increase the development level of countries, which have resource allocation and structural problems, have contributed to obtaining structural improvement in the world economy as well as necessary sources of income from the world trade for each country. Depending on that, recovery targets with the tools and resources of the World Bank used for the purpose of expanding developing countries are set forth in this study.

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