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League of Nations
League of Nation was created after the World War I and was supposed to ensure the war never broke out again. The success of the League of Nation was that it solved the conflicts in some countries. The failure of the League of Nation was that there were wars that was ended with a victor of one country and a loss of the other. -
United Nations
The United Nations was officially created in October 24, 1925. Its purpose was to gather all the nations in the world together to develope and come in peace. The success of the United Nation was that it played a significant role in disarming the world and making it nuclear free. Also, the failure was that the UN opinion on Hungary and Czechoslovakia were ignored by the Soviet Union in 1950s. -
International Monetary Fund/World Bank
Established in December 1945, the plans for the IMF and World Bank came about towards the end of WWII, in order to help fix the negative impact war had on international economic growth and trade.
The purpose of the IMF and the World Bank is to monitor the growth of international trade, as well as promote exchange stability. Originally, the purpose was to give loans and help rebuild Europe after the world. The IMF and World Bank are considered a specialized agency of the UN.
Some criticisms inclu -
World Trade Organization
Established on January 1, 1995, after the Uruguay Round trade negotiations and is the legal successor of the General Agreements on Tariff and Trade (GATT) established in 1947.
The main goal is to improvefo the WTO the welfare of peoples in the WTO member-states.Some of the successes of the WTO include the WTO agreements which would help put ground rules for international commerce. Some of the criticism seen with the WTO, was that the majority of the member countries were developing countries.
