JAY ROME D.

ABOROT
BSCS 2nd Year

Economic globalization refers to the increasing interdependence of world economies as a

result of the growing scale of cross-border trade of commodities and services, flow of
international capital and wide and rapid spread of technologies.

International Monetary Fund (IMF) is an international organization that promotes global

economic growth and financial stability, encourages international trade, and reduces poverty.
Quotas of member countries are a key determinant of the voting power in IMF decisions. Votes
comprise one vote per 100,000 special drawing right (SDR) of quota plus basic votes. SDRS
are an international type of monetary reserve currency created by the IMF as a supplement to
the existing money reserves of member countries.

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 ensure that
trade flows as smoothly, predictably and freely as possible.

Global Corporations is a global company is generally referred to as a multinational corporation

(MNC). An MNC is a company that operates in two or more countries, leveraging the global
environment to approach varying markets in attaining revenue generation. These international
operations are pursued as a result of the strategic potential provided by technological
developments, making new markets a more convenient and profitable pursuit both in sourcing
production and pursuing growth.

International monetary system is a set of internationally agreed rules, conventions and

supporting institutions that facilitate international trade, cross border investment and generally
the reallocation of capital between states that have different currencies.