International Organizations

International organizations are vital in promoting global cooperation, trade, and economic stability. The General Agreement on Tariffs and Trade (GATT) initially set the stage for global trade liberalization, which eventually led to the formation of the World Trade Organization (WTO). The WTO now oversees international trade regulations, settling disputes among nations and fostering smoother trade practices worldwide. Regional trade blocs like the European Union (EU) and the Association of Southeast Asian Nations (ASEAN) enhance economic cooperation and integration among member countries, driving growth and development.

International forums such as the G7 and G20 bring together global leaders to address economic and political challenges, offering a platform for collaboration on key global issues. The Bretton Woods Conference in 1944 resulted in the creation of critical institutions like the International Monetary Fund (IMF) and the World Bank, which aim to stabilize the global economy and provide financial support to nations in need. Additionally, the United Nations (UN) plays a central role in maintaining global peace, security, and development.

These organizations collectively influence global trade policies, manage economic crises, and encourage collaboration across nations, contributing to a more interconnected and stable world economy.