The oficial name is the International Bank for Reconstruction and Development (IBRD). It is an organization under the control of the United Nations. It was set up in 1944 and began to operate in 1946. One of todays most important aims is to give loans to countries suffering from poverty.
International Monetary Fund
The International Monetary Fund was set up in 1944 as a specialized agency of the United Nations. Its members number more than 182 countries. The Fund is essentially a bank for member states. The main task is to monitor the world economy, offer information, advice and help.
The term ”globalization” was first coined in the 1980s, but the concept stretches back decades, even centuries, if you count the trading empires built by Spain, Portugal, Britain and Holland. Globalization is the result of IBRD and IMF activities. Help brought to poor countries is closely connected to forced changes to their economies, goverment and culture and they become economically dependent on powerful countries. International investing, interconnected roads, building of nuslear power-station, unified currencies, control of world trade. These and other activities are controlled by IMF and IBRD. The internet may be spearheading a global communications revolutin,fashion designers may embrace ethnic hues and styles, McDonald´s may spread its restaurants across the globe. Beyond the front pages, globalisation is a reality that, for better or worse, touches our lives in ways most us never stop to think about. The freedoms granted by flobalisation are leading to increased insecurity in the workplace. Manual workers in particular are under threat as companies sheft their production lines overseas to low-wage economies.