The key actors that facilitate economic globalization include:
- International Economic and Financial Organizations such as the International Monetary Fund (IMF), World Bank, and Organization for Economic Cooperation and Development (OECD). These institutions provide financial assistance, policy advice, and development funding that promote international economic cooperation and growth
- International Governmental Organizations (IGOs) like the World Trade Organization (WTO) and regional bodies such as ASEAN and NAFTA. They create frameworks and agreements that reduce trade barriers and encourage economic integration
- Nation-States (Governments) which enact trade policies, negotiate international agreements, and regulate economic activities to facilitate cross-border trade and investment
- Transnational Corporations (TNCs) or Multinational Corporations (MNCs) that operate across multiple countries, leveraging global supply chains and markets to drive economic integration and production globalization
- Non-Governmental Organizations (NGOs) and the Media , which influence economic policies, promote transparency, and facilitate the flow of information critical to globalization processes
- Multilateral Development Banks that fund infrastructure and development projects to support economic growth in various countries
- The United Nations (UN) System , which supports global cooperation on economic development and sustainability
Together, these actors create the institutional, financial, political, and corporate frameworks that enable the intensification and expansion of economic interactions on a global scale
