Question

True or False: As part of the World Bank’s Strategic Framework, there are five focus areas that accommodate and facilitate the globalization process, including its analytical and advisory roles supporting national policies to strengthen free market institutions and infrastructure that have provided the potential for creating large gains from trade.

Answer 1

Answer:

The answer to the question: As part of the World Bank´s Strategic Framework, there are five focus areas that accommodate and facilitate the globalization process, including its analytical and advisory roles supporting national policies to strengthen free market institutions and infrastructure that have provided the potential for creating large gains from trade, would be: True.

Explanation:

The World Bank, sister to the IMF (International Monetary Fund), was created in 1944 at the Bretton Woods Conference. While initially the Bank´s purpose was to aid the reconstruction efforts of Europe after the end of World War Two, the institution modified its policies and re-assessed its priorities and its objectives and today is dedicated to aiding the restructuring and reconstructing of certain nations whose development is not as it should be, as well as helping combat poverty.

When facing the upcoming of globalization, the Bank also reassessed its position on it and it created its Strategic Framework, which focusese mostly on five specific focus areas, including helping to balance economic and financial gains through trade so that less developed countries can also benefit from these gains. To do this, the Bank has remodeled its analytical and advisory role and has become a supporter of national policies in nations that are seeking to strengthen the free market institutions and infrastructure and to liberalize their economies. This is why the statement is true.