List the 3 Bretton Woods institutions and explain each insti

List the 3 Bretton Woods institutions and explain each institution\'s role in international political economy 6. 7. Focusing on the U.S. and Britain, explain why governments and policymakers shifted away from Keynes\' views and adopted Hayek\'s during the 1970s and 1980s 8. List some ways that global production and trade has changed over the last several decades. 9. What are some criticisms of globalization? 10. Provide 3 or 4 key points about each of the following: a. NAFTA b. European Union c. CP TPP

Solution

6.
Three Bretton-Wood institutions are as follows:
1.World Bank
2.International Monetary fund (IMF)
3.World Trade Organization

Role of the World Bank is to provide financial assistance in building capacities and implementing development projects. The World Bank also helped the nation (suffering from war) to reconstruct the economy in terms of guidance, planning assistance and issuing loans to them.

Role of the IMF to create and facilitate international cooperation in terms of their monetary policies, implementation of monetary reforms and bring stability in the foreign exchange rate system in the world. IMF also provides financial assistance and bail out packages who suffer economic crisis or need help to come out of structural failure.

The role of world trade organization is to bring all the countries on one platform, facilitating international trade and promote globalization in the world. WTO also tries to build consesus & establish a uniformity in regulations applied in different countries so that a level playing field is created.

Pl. repost other unanswered questions for their proper answers!