International Monetary Fund
Globalization refers to the increasing global relationships of culture, people and economic activities and even the technological relations which aids the globalization as well.

Aspects of globalization

Trade; Globalization of trade entails that human beings have greater access to a variety of goods and services across the international borders .for example, cars from Germany, software from India, clothing from China, and coffee from Colombia etc. Therefore a country which exports more primary commodities such as food and raw materials gain a lot compared to ones which export less.

Movement of people; Globalization has enabled people to move from one country to another to look for better paying jobs and better employment opportunities, making most countries borderless and movement non-restrictive as before. Due to this movement, people are able to gain different skills and knowledge from the foreign country and implement it in their home countries hence increase in productivity and quality…...

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References

IMF Staff (2002), "Globalization: Threat or Opportunity." Retrieved April12,2000 from  

International Monetary Fund was created in 1945 with the purpose of facilitating trade, improving capital flows, controlling exchange rates and basically helping Europe reconstruct its economy after the devastation of the Second World War. However over the decades, the role expanded and changed considerably as IMF became a financial institution that advises countries on economic policies, acts like a development agency and also steps in during times of financial crisis to maintain and reestablish order. In this way IMF has been doing something which is not consistent with its original role as mandated by the Articles of Agreement of 1944.
With the end of the Bretton Woods era, IMF's role expanded considerably and it has now become the main economic regulations body of the United Nations. It plays an important in regulating world economies by offering members advice on the issues of monetary and fiscal significance. Though often seen in a…...

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References

Peet, R. (2003). Unholy trinity: The IMF, World Bank and WTO. London: Zed books.

Ranis, G. Vreeland, J, R. & Kosack, S. (2006). Globalization and the nation state: The impact of the IMF and World Bank. Oxon: Routledge.

Stiglitz, J. (2002). Globalization and its Discontents. In Carin, B. Woood, A. (1998). Accountability of the International Monetary Fund (p.67). Ottawa: Ashgate.

International Monetary Fund (IMF) serves as an important function that makes international trade less challenging. The IMF is a powerful international institution that works together with the World ank to provide support and guidance to nations in all stages of economic progress.
The IMF is responsible for managing the global financial system and supplying loans to its member states to help alleviate financial problems. Agreement for its creation came at the United Nations Monetary and Financial Conference in 1944 and the organization came into existence in 1946.

The IMF, along with the ank for International Settlements and the World ank, defines the monetary policy shared almost all by countries that pursue capitalism as an economic strategy. In order to gain access to IMF loans, ank for International Settlements agreements, and strategic World ank development loans, a country must agree to terms determined by all three organizations.

International trade is a key element that…...

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Bibliography

Goldman, P. The democratization of the development of United States trade policy. Cornell International Law Journal, 1994.

Littrell, Mary. Social Responsibility in the Global Market - Fair Trade of Cultural Products. SAGE Publications, 1999.

Madeley, John. Trade and the Poor: The Impact of International Trade on Developing Countries. Intermediate Technology Publications, 1992.Raisian, John. The International Monetary Fund -- Financial Medic to the World? A Primer on Mission, Operations, and Public Policy Issues. Hoover Institution, 1998.

International Monetary Fund Web Site.

In some countries, the effects of the SAP doctrine of privatization have proved devastating. Kline (38) also notes IMF's loans stipulating that countries who borrow money change certain practices, that albeit, may be aimed at improving conditions also foster concerns. Rather than having to assure a goal is achieved at a particular time, ethical decisions might best only call for steps that advance conditions for a desired goal to be attained. That practice, could eliminate any hint of extortion; real or imagine; at home or in international relations.
orks Cited

About the IMF." Retrieved 12 July 2006 at http://www.imf.org/external/about.htm,

The IMF at ork." Retrieved 12 July 2006 at http://www.imf.org/external/work.htm,2006.

International Monetary Fund." Retrieved 12 July 2006 at http://www.imf.org/,2006.

Kline, John M. Ethics for International Business: Decision Making in a Global Political

Economy. London: Routledge, 2005.

Thomas, Mark. "The International Monetary Fund's Very Ideology Runs Counter to Developing Nations' Needs: It Is in Fact a Nasty Little…...

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Works Cited

About the IMF." Retrieved 12 July 2006 at  

These critics argue that the United States and Europe have been the principal financial support for the IMF for over fifty years and that, but for, such support the IMF would long ago ceased to function as a viable organization. Those supporting this view, however, also argue that the IMF has lost sight of its original goal and ventured into new areas that might be best left for others to address. Debates have repeatedly occurred in the halls of the U.S. Congress relative to the United States' continued financial support of the IMF. These debates center on the fact that the IMF has ceased to exist as an organization whose function was to finance temporary balance of payment problems and transcended into an organization whose principal function is to provide "microeconomic bailouts that restore the solvency of clearly insolvent financial institutions" (Calomiris, 1998).
In a similar vein, critics argue that…...

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References

Bandow, D. (1993). Perpetuating Poverty: The World Bank, the IMF, and the Developing World. Washington, D.C.: Cato Institute.

Bucharest Herald. (2011, July 7). Christine Lagarde: IMF must focus on credibility. Bucharest Herald .

Calomiris, C. (1998). Testimony before Joint Economic Committee. U.S. Congress, (p. 20). Washington, D.C.

Chossudovsky, M. (1991). Global Poverty and the New World Economic Order. Economic and Political Weekly, 2527-2529, 2531-2537.

Globalization:
Matter of Perspective

There is little doubt that the globalization debate is highly polarized between those who see it as a "good thing" for the majority of nations, and those who see it as just another means to exploit the poorest countries. The two articles "Globalisim's Discontents," written by Joseph Stiglitz, and "Globalization: Threat or Opportunity," authored by writers working for the IMF, or International Monetary Fund, are excellent examples of this polarity.

Joseph Stiglitz notes that the trend of globalization has "brought huge benefits to a few with few benefits to the many. ut in the case of a few countries, it has brought enormous benefit to the many." He then explains the main difference between those countries that are globalizing "successfully," and those that are not is their ability to:

substantially control the terms on which they engaged with the global economy. y contrast, the countries that have, by and…...

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Bibliography

Stiglitz, Joseph. (2002). "Globalism's Discontents." American Prospect Magazine. Retrieved from Web site on April 10, 2004 66&hm____action=http%3a%2f%2fwww%2ethirdworldtraveler%2ecom%2fGlob al_Economy%2fGlobalisms_Discontents%2ehtmlhttp://64.4.14.250/cgi-bin/linkrd?_lang=EN&lah=7ab49ab9c409975c7ef7a4dcadccc699&lat=10816379

IMF. (2002). "Globalism: Threat or Opportunity?" IMF Issues Briefs. Retrieved from Web site on April 10, 2004  http://www.imf.org /external/np/exr/ib/2000/041200.htm#IV

WB, IMF & WTO
Neocolonialism according to the Free Dictionary (2011) is the application of a policy where a major power utilizes the political and economic power to continue its influence on the less developed nations. It also entails the control of politics of a country that in theory is sovereign and independent through the domination of its economy. It can as well be referred to as the exploitation of weaker nations by the stronger nations and using their resources to enrich and strengthen the stronger countries.

It is this exploitation that is perpetuated by the neocolonialism that makes the poor countries to continue being poor as the little resources that are available are taken away through various agreements that bind the poor countries to the powerful countries. There are aids that are brought into the poor countries bearing the fact that they cannot sustain themselves and in return, their resources are…...

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References

Daniel J. Mitchell, (2011). Why the IMF Peddles Bad Policy. Retrieved November 8, 2011 from  http://www.thecommentator.com/article/256/why_the_imf_peddles_bad_policy 

Letitia Charbonneau & Dianne Clipsham, (2004). Bananas Unpeeled! The Hidden Costs of Banana Production and Trade. Retrieved November 8, 2011 from  http://www.global-ed.org/bananas-unpeeled.pdf 

The Free Dictionary, (2011). Definition: Neocolonialism. Retrieved November 8, 2011 from  http://www.thefreedictionary.com /neocolonialism

The IMF currency reserve units are called Special Drawing ights (SDs); from 1974 to 1980 the value of SDs was based on the currencies of 16 leading trading nations. Since 1980 it has been reevaluated every five years and based on the relative international economic importance of the British pound sterling, the European Union euro (formerly the French franc and German mark), the Japanese yen, and the U.S. Dollar." (2010, p.1). All these roles make it one of the most important player in the global financial market.
Criticism in the wake of the current global financial crisis

The IMF has been criticized for its role through most of the major financial crises that have taken place in history. One such example is the Asian financial crisis of 1998 when the fund required the Asian countries to keep the interest rates at extremely high levels. Also, the IMF provided loans to developing…...

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References

No author. (July 1st, 2010). International Monetary Fund. Columbia Electronic Encyclopedia, 6th edition, p.1

Graham, Bird. (Aug 2004). The IMF Forever: An Analysis of the Prolonged Use of Fund Resources. Journal of Development Studies. Vol 40(6) p 30-58.

International Monetary Fund. (no date). Retrieved from  http://www.imf.org 

Truman, Edwin. (2006). A strategy for IMF Reform. Publisher: Peterson Institute.

International Monetary System and Exchange ate Policies
A report/essay: chapter 17, multinational companies. select topic research write: Multinational vs. domestic financial management exchange rates international trade international monetary system exchange rate policies trading foreign exchange european monetary union interest

rate parity/purchasing power parity international capital structures.

The international monetary system and exchange rate policies

International Monetary systems

These are a set of rules and that regulate how international trade and payments are handled. It facilitates the exchange of capital, goods and services among countries. However, this system does not have a physical presence but, it consists of interlacing rules and procedures and is influenced by the market of foreign exchange. An example of an international monetary system is the International monetary fund. These interlacing rules and procedures are referred to as exchange rate Policies.

Exchange rate policies

These are rules that officials of public finance from different nations have developed and put in place and, they modify…...

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References

Eichengreen. (2011). Exorbitant Privilege: The Rise and Fall of the Dollar and the Future of the International Monetary System

Goyal, M., Raman, Wang, and Ahmed; . ( 2011). Financial Deepening and International Monetary Stability.

Michael C. Ehrhardt, & Eugene F. Brigham. (2011). Corporate Finance (4th ed.): Cengage.

OECD. (2011). The Effects of Oil Price Hikes on Economic Activity and Inflation.

International Monetary System
In world trade, varied national currencies are swapped for each other by means of rules and procedures set by a system called the international monetary system. To delineate a general standard of value for the world's currencies, such a system is believed to be necessary.

The global monetary structure has always adhered to the organizational framework of the international discipline. In each stage of the financial capitalism there exists a corresponding monetary approach. The monetary structure during the postwar periods catered to the dominance of the United States. This was applied as a tool during the period to enforce the U.S. dominance over all its allies and the developing countries, irrespective of the socialist countries isolated themselves being unconnected from the influence of the financial and monetary disciplines of the global capitalism.

Gold standard was the first contemporary international monetary system. The gold standard contributed for the free exchange between…...

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References

Amin, Samir. Replacing the International Monetary System? - Current Failures of Global Economic Policy. Monthly Review. Volume: 8; No: 1; October, 1993. pp: 93-98

Holloway, Thomas. M. The International Monetary System: Essays in World Economics. - Book Reviews. Monthly Labor Review. Volume: 12; No: 1; January, 1998. pp: 158-164

International Monetary System. The Columbia Encyclopedia. Sixth Edition. 2001. Retrieved from   Accessed on 12 November, 2004.http://www.bartleby.com/65/in/intlmone.html 

Little, Jane Sneddon; Oliveri, Giovanni. P. Rethinking the International Monetary System: An Overview. New England Economic Review. Volume: 16; No: 1; November, 1999. pp: 24-29

According to Chancellor Helmut chmidt the interest rates of the developed countries in the post1990 era were higher than they had ever been "at any time since Jesus Christ" (http://hdr.undp.org/external/HDR_papers/oc3b.htm). In 1983, in Latin America, whose devaluations were enormous, it was recorded that in one year "the effect on the individual private sector, which in [some] cases had been encouraged by the policies of the authorities to borrow, has been devastating...the amount needed in local currency to service external debt has increased three or four times" (Kuczynski,1983, p. 22). The situation in these countries is such: with the decrease of their currency value, more goods must be sold to pay back their debt plus interest, and since their export prices have been steadily declining in the post war years, their accumulated interest swells to a rate that is higher than the nominal dues stipulated in the original contract (http://hdr.undp.org/external/HDR_papers/oc3b.htm).…...

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Sources

Developing countries in the international economic system. Accessed on 1/13/2011 from:  http://hdr.undp.org/external/HDR_papers/oc3b.htm 

InfoPlease, International finance. The International Monetary System. Accessed on 1/13/2011 from:  http://www.infoplease.com /cig/economics/international-monetary-system.html

Kahn, a.A. (19-Jan-2009). International monetary system, globalization, and developing countries. The News, Accessed on 1/13/2011 from: www.opfblog.com/3909/international-monetary-system

Kuczynski, P.P. (1983). Latin American Debt: Act Two, Foreign Affairs, 22-29

Barry Eichengreen (2011) has speculated that the U.S. dollar may be on the decline as the world's vehicle currency. The dollar has performed this role since at least Bretton oods, when the financial and political might of the United States allowed it to take the lead in the global financial system from Great Britain. However, that lead is being challenged today by two other currencies. One is the euro, which derives from the Eurozone, a basket of nations that has an economy around the same size as the United States. The other is from the Chinese yuan, a currency that is pegged to some degree to the U.S. dollar, but which is backed by the world's third-largest economy (behind the U.S. And Eurozone) and one that is growing rapidly. The creation of the euro immediately fuelled speculation that it would overtake the dollar as the world's vehicle currency, and…...

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Works Cited:

Devereux, M. & Shi, S. (2008). Vehicle currency. University of Toronto working papers. Retrieved November 29, 2011 from  http://ideas.repec.org/p/tor/tecipa/tecipa-315.html 

Eichengreen, B. (2011). Why the dollar's reign is near an end. Wall Street Journal. Retrieved November 30, 2011 from  http://online.wsj.com/article/SB10001424052748703313304576132170181013248.html 

Goldberg, L. & Tille, C. (2005). Vehicle currency use in international trade. Federal Reserve Bank of New York, staff report #200.

Lim, B. & Qing, K. (2011). China to step up ASEAN yuan trade settlement. Reuters. Retrieved November 29, 2011 from  http://www.reuters.com/article/2011/10/20/us-china-economy-yuan-idUSTRE79J2JR20111020

functions of the International Monetary system, a few significant institutions which deal with foreign currency as well as conclude on which system of exchange rates is more useful in the corporate world.
History of the International Monetary System:

In the start of the economical world, people were commonly in the habit of using the barter system to purchase goods that were in need. With time though, the system of trading gold and silver coins started to evolve. Around the 19th century, officially, countries started issuing themselves a basic currency. This marked as the beginning of the modern day monetary system of trade.

In the Pre-World War era, money unions evolved which enabled people of different countries to easily exchange currencies. In this period of time, there was a low level of financial crisis and economies were growing steadily. However, with the World War going on, global trade and the flow of capital…...

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References:

Eichengreen, B. (2008). Globalizing capital: A history of the international monetary system. Princeton University Press.

Stein, J.L. (1997). Fundamental determinants of exchange rates. University of Oxford.

The World Bank (2005). Getting to know the world bank: A guide for young people. The World Bank

Thornton, R.C. (2001). The nixon-kissinger years: Reshaping America's foreign policy. Paragon House.

Other tools frequently used in this approach are positioning surveys and moving-average trend following trading rules. Fund managers regularly use these patterns to take informed decisions for short-term investments (Exchange ate Forecast, 2010).
Exchange rate risk affects both revenues and costs, which in turn affects a company's marketing, production, and financial decisions (Shapiro, n.d.). If a company's revenues are down then they might find themselves with less money to produce and market their product or service. If a company cannot produce or market their product or service they will probably not remain in business for very long. This is why it is so important to make financial decisions based upon a good model for forecasting exchange rates. A company's bottom line and ultimately their continued success rely heavily on their capability to have enough money to produce products and market them. A company that has no money to manufacture and…...

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References

2011 New design solar water heater. (2011). Retreived from  http://www.alibaba.com/product -

gs/504296912/2011_New_design_solar_water_heater.html

Boyabatl, O. & Toktay, L.B. (2004). Operational Hedging: A Review with Discussion.

Retrieved from  http://www.prism.gatech.edu/~bt71/articles/pompaper.pdf

The main advantage of this association is that you will get to control the production process and both collaborators will have the right to question and manage everything. It will require high negotiation skills, primary high investments, but the market is full of potential. By joint venture we will have the possibility to interfere in the recruitment process, deciding who the best people for the jobs are. For India, there will also be an important gain. Not only do we stimulate intern, national production but we also give new job opportunities to citizens. Moreover, due to the fact that India has highly trained people in the technological domain, we might improve our product's characteristics or even come up with new ways of reducing the costs. Moreover, the assembling parts will be less expensive as their transportation costs will be lower.
ecommendations

When choosing a country for expansion, one has to pay…...

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References

Alibaba.com, 2007, Who is the leader in software.. china or India?, [Online] Available at  http://resources.alibaba.com/topic/23730/Who_is_the_leader_in_software_china_Or_India_.htm 

BBC News, 2007, Country Profile: India, [Online] Available at  http://news.bbc.co.uk/1/hi/world/south_asia/country_profiles/1154019.stm 

Directory of Official Websites of the Government of India, 2007, [Online] Available at  http://goidirectory.nic.in/ 

Farlex, 2007, the Free Dictionary, [Online] Available at  http://www.thefreedictionary.com

Globalization and Economic Interconnectedness

Globalization, the interconnectedness of nations and peoples through trade, finance, and communication, has profoundly influenced the economies of the world. It has fostered a complex web of interdependencies, leading to a more interconnected and interdependent global economy.

Trade and Investment

Globalization has broken down trade barriers and reduced transportation costs, leading to a surge in global trade. Multinational corporations have established production facilities and supply chains in multiple countries, creating dense networks of trade flows. Countries have specialized in producing goods and services where they have a comparative advantage, leading to greater efficiency and lower consumer prices. Foreign direct....

The Profound Impact of the 2008 Financial Crisis on Global Economies and Banking Systems

The 2008 financial crisis, widely acknowledged as the most severe financial upheaval since the Great Depression, left an indelible mark on global economies and banking systems. The crisis's origins can be traced to various factors, including the subprime mortgage debacle, excessive risk-taking by financial institutions, and inadequate regulatory oversight. Its effects, however, reverberated far beyond the financial sector, affecting businesses, households, and governments worldwide.

Impact on Global Economies

The crisis triggered a deep and prolonged recession across the globe. Economic growth plummeted, unemployment soared to alarming levels, and international....

Impact of Commercial Office Space Tax on the Market
The imposition of a tax on commercial office space can have far-reaching implications for the real estate market. Here's an analysis of how the market typically responds to such a tax:
1. Reduced Demand and Renting Activity:
The tax increases the cost of occupying commercial office space, making it less affordable for businesses.
As a result, demand for office space declines, leading to a decrease in renting activity.
Tenants may seek alternative, less expensive options, such as subletting, co-working spaces, or working remotely.
2. Lower Rental Rates:
With reduced demand, landlords must adjust their....

Strategies to Accelerate AFCFTA Implementation for Enhancing Trade in Services in Africa
The African Continental Free Trade Area (AFCFTA) holds immense potential for fostering trade in services across the continent. However, its implementation requires the adoption of targeted strategies to overcome existing barriers and leverage opportunities.
1. Policy Harmonization and Regulatory Alignment:
Harmonizing regulations and standards across borders reduces trade costs and improves market access.
Establishing clear guidelines for cross-border service provision, including licensing, certification, and recognition of qualifications.
Implementing mutual recognition agreements facilitates the seamless movement of professionals and service providers between countries.
2. Infrastructure Development and Connectivity:
Investing in reliable and....