Global Financial Management: International Finance, WTO, IMF, and World Bank

Running head: GLOBAL FINANCIAL MANAGEMENT
Global financial management
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Global Integration:
Global integration refers a process through which an organisation combines its
various activities all over the world for operating with the help of same strategies. This
process involves the process of technology development and product standardization (Curran
et al. 2017). Hence, it can be said that economic integration or global integration is an
arrangement within various geographical regions that can reduce or eliminate trade barriers
among them and to coordinate fiscal and monetary policies.
International Finance:
It is a part of financial economics, which deals with two or more than two countries
monetary interactions. Hence, this part focuses on currency exchange rates and foreign direct
investment (Schoenmaker 2018). Currency exchange rate is essential as a lower currency of a
country makes its exports cheaper and imports as expensive in international market. The
opposite situation occurs for higher exchange rate.
The World Trade Organisation (WTO):
The WTO is an international institution, which supervises trade rules between two
countries in world market. This organisation is formed on agreements that are signed by most
of the trading countries across the world. The chief characteristic of WTO is to support and
protect producers related to goods and services, imports and exports from managing their
businesses (Ruggie 2017). Hence, the WTO has some objectives that are described as
follows:
1. To confirm full employment along with large increment in effective demand
2. To develop living standard of people of all member countries
3. To enhance service related to trade
4. To increase trade and production of goods
5. To adopt environmental protection