International Financial Organizations GBM 381 - International Trade Considering Poland's natural resources, trade position, and currency fluctuations, how do international financial organizations like the World Trade Organization (WTO) and the International Monetary Fund (IMF) facilitate global trade for countries like Poland, and what role do these organizations play in addressing the challenges associated with Poland’s trade and currency issues? Word Count Requirement: Your response should be between 800 and 1000 words. International Financial Organizations Getting into the global trade market requires a lot of measures, and can be challenging for a lot of nations. At first, a nation should concentrate on the manufacturing, processing of natural resources, or manufacture of items. As soon as a product is discovered, a target market should be found out in which the items can be bought and sold freely. Buying and selling however happens at a price. Funding trade can often be difficult; however fortunately, a lot of companies are there which can offer help. Natural Resources - Poland Just like any nation, a great deal of natural resources can assist build an economy. Inside of Poland, the mining sector has been an integral part of the country’s history with proof of mining dating back to three thousand five hundred BC (Ministry of Foreign Affairs, 2011). The nation carried on the mining custom all through the forthcoming centuries using a big rise at the change of the eighteenth century. During the mid - 20th century, after the First World War, the nation's boundaries changed, and a lot of what the nation was mining was lost. But, the change in boundaries also opened up alternatives of other mining activities inside the country. Among the biggest deposits of minerals inside the country is tough, as well as dark brown coal. Following the First World War boundary change, Poland received huge coal reserves inside Lower and upper Silesia. These types of reserves are believed to include a lot more than 45.4 billion tons of coal, which at the present rate of over 100 million tons of coal for each year will continue to be viable for almost five centuries (Ministry of Foreign Affairs, 2011). The coal is utilized mainly for electrical power inside the country, with several million tons for each year available in reserve for export. Trading Position - Poland Poland is near geographically to Germany, France, as well as the Netherlands. These types of developed nations are abundant with money, sophisticated technologies as well as farming, but don't possess the large quantity of natural resources such as Poland. Provided the geographic closeness as well as the possible comparative benefits Poland has over these countries in the output of coal, sulfur, and copper industries, there might be a change in Poland’s existing trading role with these countries. Besides the fact that Poland has huge resources of coal, sulfur, as well as copper, its agriculture field remains one of the minimum productive fields of the Polish economic system, engaging 13.3% of the labor force while adding lower than 4% to the gross domestic product (GDP) for 2009 (U.S. Department Of State Bureau Of European And Eurasian Affairs Republic of Poland, 2011). As per Salvatore (2005), under the rules of comparative advantage, a nation must concentrate on the manufacturing of the item, resources, or services in which its real advantage is more compared to its absolute advantage linked with another item, resource, or service. Provided how unproductive Poland is in the agriculture field, it must turn to a trade partner to optimize its economic production. For instance, France is the world's second - largest agricultural manufacturer, with the location of 70% of its exports is to other European Union member countries (U.S. Department of State Bureau of European and Eurasian Affairs French Republic, 2011). Poland would be much better served to concentrate on the output of coal, sulfur, and copper as well as search to import agricultural items from France . Foreign Exchange - Poland The Polish Zloty has got an openly floating currency rate (“U.S. Department of State Bureau Of European And Eurasian Affairs, Background Note: Poland", 2011 and “Official Promotional Website of the Republic of Poland”, 2011) which leads to variations of the worth of the Zloty in comparison to other international currencies. For instance, the Polish economy was rising into 2008 prior to the international financial crisis hit. But, following the downfall of Lehman Brothers during September of that year, the P olish Zloty got a substantial hit and by the finish of that year, the Polish zloty had dropped approximately 50% of its value versus the United States dollar and 35% versus the Euro (“U.S. Department Of State Bureau Of European And Eurasian