Question

How does an international economic organization try to help the global economy?

Answer 1

Hint: Globalization can be viewed as a method or mechanism for accepting and adhering to mankind's global problems. The following global problems are regarded as critical for humanity:
-Underdevelopment and the food crisis
-Military costs are enormous.
-Inflation and monetary-financial crises
-raw materials and energy
-Rapid Population Growth and Deterioration of the Environment

Complete answer:
International economic organization –
-Global trade and economic exchange are supported by a diverse range of organisations, ranging from the World Trade Organization (WTO) to the World Bank and the International Monetary Fund.

-Organizational economics is useful for designing human resource management strategies, deciding how a company should be managed, evaluating market risk, introducing compensation schemes, and making, reviewing, and enhancing management decisions.

Role of International economic organization –
International organisations play a part in helping to set the international agenda, mediating political bargaining, providing a platform for political initiatives, and forming coalitions. They make it easier for member countries to collaborate and coordinate.

The aim of international economic organizations is to assist the global economy-
i) The IMF, the World Bank, and the World Trade Organization all work to promote free trade in order to support the global economy.
ii) Anti-globalization activists criticise these groups, claiming that they only support major businesses and not the local people. Libertarians criticise these organisations for similar reasons, but with different analyses.
iii) They claim that these organisations establish laws that are incompatible with the rules of competition, preventing the law of demand and supply from working by stifling competition from smaller businesses.
iv) They have a variety of responsibilities, including upholding safety standards, assisting developed countries in achieving economic stability, and setting norms for how countries make trade agreements and settle conflicts.

Note: Globalization seeks to support individual economies all over the world by improving consumer efficiency, increasing competitiveness, reducing military conflicts, and more evenly distributing resources.

The United Nations (UN), which has specialised international organisations in charge of various aspects of the globalisation process, must function democratically, with openness, accountability, impartiality, and legality.