Governments form alliances to promote economic growth or assist each other when necessary. Some groups are rather symbolic, while others exercise real political and military power.
Asian Development Bank
Politicians in emerging and frontier markets in Asia often turn to the Asian Development Bank for financing and experience for infrastructure projects. The projects of the Asian Development Bank are in operation throughout the Asian continent and the Pacific islands. The bank can grant loans, grants, and technical assistance for the distribution of electricity, water purification, or higher education, and sparks progress that can improve the growth prospects for businesses and investors.
The African Union includes all the countries of Africa except Morocco as members. It works to promote people’s economic and political prospects in the African continent and has a court of justice to help settle border treaty disputes peacefully. Members have agreed to allow a central African bank, monetary fund, and an investment bank, but those institutions have not yet been created and may not be.
Seven nations of the African Union are emerging or border markets: Botswana, Egypt, Ghana, Kenya, Mauritius, Nigeria, and South Africa.
The Commonwealth consists of 54 countries committed to democracy after being part of the former British Empire. Each nation is independent but accepts its historical connection as a colony grantee. Many, though not all, recognize Queen Elizabeth II as their head of state. Members with emigration tend to lose citizens to other Commonwealth countries, especially Great Britain. That makes for strong economic and cultural ties within the organization.
The European Union (EU) has 27 member countries, with 501 million citizens. Eight members of the EU are emerging or border markets: Bulgaria, Czech Republic, Estonia, Hungary, Lithuania, Poland, Romania, and Slovenia. Turkey, an emerging market, and Croatia, a border market, are on the list of candidate nations.
The EU regulates travel and trade among its members. Citizens of member countries can travel and work anywhere in the EU. The commercial, health, and safety regulations are standardized, making it easier for companies to develop a product in a market and sell it throughout the EU.
The EU has helped Europe form a strong economy and helped many countries in their transition of communism. The success of the EU is the result of the hard work and commitment of the rich countries, especially France and Germany, for its success.
International Monetary Fund
The International Monetary Fund (IMF) is the banker of the world’s central banks. Its programs include loans and economic advice for countries that have developing economies. The IMF is called when a country has a currency crisis and needs help stabilizing its currency and rebuilding its financial system.
The World Bank aims to eliminate poverty through economic development. Its two lending arms are the International Bank for Reconstruction and Development and the International Development Association.
The World Bank is no stranger to the controversy. Critics argue that their loan programs keep developing nations in perpetual debt. This stated goal of fighting government corruption goes against an unfortunate fact of life that corruption is part of doing business in many frontiers and some emerging markets. The corrupt do not like the big, multinational organizations financed by the developed countries that tell them what to do.
World Trade Organization
To make it easier for people to do business with each other, regardless of what nation they live in, the World Trade Organization (WTO) helps resolve disputes over tariffs, quotas, and other practices that restrict trade. The group helps negotiate trade differences among its 153 member countries, including almost all developed, emerging, and frontier markets in the world.Participation in the WTO creates a more organized approach to international trade, and it helps companies and investors worldwide take advantage of global business opportunities. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.