Since the Second World War, there have been three international coordination organizations engaged in international economic coordination and maintaining the international economic order, namely, the International Monetary Fund, the World Bank and the World Trade Organization. Under the condition of the internationalization of monopoly capital, various forms of international economic coordination institutions have accelerated the international flow of production factors such as capital and technology, promoted the rapid growth of trade in goods and services, strengthened economic ties among countries, and promoted the development of economic globalization.
The International Monetary Fund (IMF) was established in Washington on February 27th, 1945 according to the IMF agreement signed at the Bretton Woods Conference in July. Established at the same time as the World Bank and listed as the two largest financial institutions in the world, their duties are to monitor the currency exchange rates and trade conditions of various countries, provide technical and financial assistance, and ensure the normal operation of the global financial system. Its headquarters is in Washington, DC. We often hear that the "SDR" was created by the institution in 1969. The main role of the International Monetary Fund is auditor, whose job is to record the trade figures and debts between countries, and to preside over the formulation of international monetary and economic policies. As for the World Bank, it mainly provides long-term loans.
The World Bank is the abbreviation of the World Bank Group and the general name of the International Bank for Reconstruction and Development. It is a specialized agency of the United Nations dealing with international financial business, and also a subordinate agency of the United Nations. The World Bank is an important source of funds and technical assistance for developing countries all over the world. The World Bank provides low-interest loans, interest-free loans and grants to developing countries to support investments in education, health, public administration, infrastructure, financial and private sector development, agriculture, and environmental and natural resource management. Some World Bank projects are jointly funded by the government, other multilateral institutions, commercial banks, export credit institutions and private sector investors.
The World Trade Organization (WTO) is a permanent international organization independent of the United Nations. The World Trade Organization is headquartered in Geneva, Switzerland, and the current chairman of the General Council is Ambassador David Walker. The function of the World Trade Organization is to mediate disputes. Joining the WTO is not a multilateral trade agreement. It is the organizational and legal basis of the trade system, the manager of many trade agreements, the supervisor of all members' trade legislation, and the place to settle disputes and conduct trade negotiations. This institution is one of the most important international economic organizations in contemporary times, and the trade volume among its members accounts for the vast majority of the world, so it is called "Economic United Nations".