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Migration, Identity and Sovereignty

The IMF, World Bank, WTO and other IGOs

  • 3 things to know
  • Paper 2

Overview

The near-universal membership of the IMF, World Bank and WTO, regional blocs such as USMCA, ASEAN and the EU, and IGOs formed to manage environmental problems, including the Montreal Protocol, CITES, UNCLOS, the Helsinki Water Convention, the Millennium Ecosystem Assessment and the Antarctic Treaty System.

What you need to know

Answer each one before you reveal it.

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Key term

What does each of the three main economic IGOs do?

Study

What is a regional trading bloc?

Key term

How many countries belong to the IMF, the World Bank and the WTO?

Questions from this subtopic

Each one with the model answer underneath.

  1. 1

    How many countries belong to the IMF, the World Bank and the WTO?

    Model answer

    Membership is almost universal.

  2. 2

    What does the near-universal membership of the IMF, World Bank and WTO indicate about their position in the world economy?

    Model answer

    It reflects their dominance in the global economic system.

  3. 3

    What is a regional trading bloc?

    Model answer

    A grouping of countries that coordinate trade policies among themselves.

  4. 4

    Name an example of a regional trading bloc in North America.

    Model answer

    USMCA (the United States–Mexico–Canada Agreement), which replaced NAFTA in 2020.

  5. 5

    Name an example of a regional grouping in Southeast Asia.

    Model answer

    ASEAN (Association of Southeast Asian Nations).

  6. 6

    Which regional bloc has moved beyond trade coordination towards closer political unity?

    Model answer

    The European Union.

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