What do the world bank, IFM and the WTO have in common?

Question

Pros and Cons

Answer 1

Money...

The World Trade Organization is basically an organization of the economically developed countries that provides standards for goods traded between countries. It was meant as a way that developing countries could trade with developed countries by agreeing to certain standards, like intellectual property rights, conformance to contracts, and the like. I don't know about small farmers per se, but farmers generally can sell their products world-wide provided that they meet standards of hygiene, quality, and so on. You might want to check out the WTO website (see source below).

The role of the IMF generally is to avert another collapse of the world economy similar to the Great Depression of the 1930s.

With respect to developing countries it provides loans to developing countries to assist them in developing their economies and in particular their export sectors. The goal is to assist the developing country to improve its foreign exchange earnings from trade. The IMF's philosophy is based on free trade and classical economic thinking. The IMF imposes certain conditions of lending so that it can be satisfied that the loans will meet the goal. These conditions are called "conditionalities". Many of these conditionalities encourage governments to reduce government spending and improve overall economic efficiency in their country.

Hope that helps you.

Answer 2

They're all international financial institutions. They either deal with loans or set financial regulations.

To be honest, I don't know what the IFM is

The World Bank offers loans to developing countries while the WTO promotes free trade among its members.

For pros and cons of free trade, google Globalization cons pros. There is a lot of debate for that.