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The Rich Man's Club

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Why is OECD known as “the rich man’s club”? Does it impact only rich countries?

The OECD stands for the Organisation for Economic Cooperation and Development. It is known as “the rich man’s club” because it is comprised of 34 of the world’s wealthiest nations (Ball, Geringer, McNett & Minor, pg. 75) and goes back to 1960, when it was comprised of 18 European countries, along with the United States and Canada. Today, developing nations such as Mexico, Chile, and Turkey have joined the OECD (TMSA). Together, these nations work together to better both themselves, as well as their fellow nations by promoting policies that will improve both the economic well being, as well as the social well being of people around the world. Think of the OECD as an open forum club for its members. Here, governments can come together and discuss common issues and find solutions to them. The one thing that all the countries in the OECD share is that they are all democratic countries and they support free market economies (oecd.org).

According to their mission, here are a few of the things the OECD does:
• Work with governments to understand what drives economic, social and environmental change
• Measure productivity and global flows of trade and investment
• Analyze and compare data to predict future trends
• Set international standards on things like agriculture and taxes

To answer the second part of the question, no, the OECD does not only impact rich countries. The policies that these countries come up with are meant to help developing countries as well. The OECD has been improving ports and custom facilities in developing countries to help them trade their way out of poverty via international trade.

Works Cited
1) Geringer, J. M., Jeanne M. McNett, and Michael S. Minor. "3." International Business: The Challenge of Global Competition. By Donald A. Ball. 13th ed. New

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