There is no single organization called “Global Economy”; the term typically refers to the worldwide system of economic activities, markets, and institutions rather than a formal institution. However, the functioning, stability, and governance of the global economy are shaped by several major international economic organizations, each with distinct roles, histories, and impacts[1][2][6]. ## Major Players and Their Roles The **World Trade Organization (WTO)** is the principal global body for regulating international trade, providing a forum for negotiating trade agreements and resolving disputes between nations[1][2]. It emerged from the General Agreement on Tariffs and Trade (GATT) in 1995 and has been instrumental in reducing trade barriers and fostering global commerce[2]. The **International Monetary Fund (IMF)** and the **World Bank** are pillars of global financial stability and development. Founded in 1944, the IMF promotes international monetary cooperation, offers policy advice, and provides financial assistance to countries facing economic crises[3]. The World Bank focuses on long-term economic development and poverty reduction, offering loans and expertise to developing nations[2]. Both organizations have significant influence, especially during global financial upheavals. The **Organisation for Economic Co-operation and Development (OECD)** is a forum for developed countries to collaborate on economic policy, set international standards, and share data and best practices[4][8]. It plays a key role in shaping policies on issues ranging from taxation and education to climate change and digital transformation. ## Historical Context and Evolution These organizations were established in the mid-20th century to prevent the economic disasters seen during the Great Depression and World War II. Over decades, they have adapted to globalization, technological change, and shifting geopolitical dynamics, expanding their membership and refining their mandates[3][4]. ## Key Achievements - **WTO**: Facilitated the dramatic expansion of global trade, with member countries benefiting from lower tariffs and more predictable trade rules[2]. - **IM