Management

Introduction:

With the passage of time there will be many changes globally that would affect the economy of many countries. Globalization was one of the major changes that the world witnessed recently, and similar to this kind of major make over, there are expected to be more isolated yet more effective changes made.

In the last 10-15 years trade has seen major changes. These changes are ones that directly affect the lives of the working class, and have raised a great deal of concern for millions of people. This is because of the fact that democratic principles might well be overwhelmed by capitalist endeavors. However, from a governmental perspective it appears that these strategies are ones that would not interfere with democracy. It seems that the government believes that the alliances would aid the effect of globalization, thereby creating better trade in the North Western hemisphere.

There are many organizations who act as the alliances some of the most noted ones are the World Trade Organization & The IMF there are briefly described below

World Trade Organization (WTO): -

The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world's trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business (Lucas, 2003).

International Monetary Fund (IMF): -

The International Monetary Fund is a specialized agency of the United Nations system set up by treaty in 1945 to help promote the health of the world economy. Headquartered in Washington, D.C., it is governed by its almost global membership of 184 countries.

The IMF is the central institution of the international monetary system--the system of international payments and exchange rates among national currencies that enables business to take place between countries.

It aims to prevent crises in the system by encouraging countries to adopt sound economic policies; it is also--as its name suggests--a fund that can be tapped by members needing temporary financing to address balance of payments problems.

By uniting several economies in the North Western hemisphere the alliances believe it can establish conditions in which trade would be most efficient. In order to