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The International Monetary Fund had the goal to oversee the global financial system and tried to exchange rates and help developing countries.

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1992 - The Mexican president started to work with George H. W. Bush and the Canadian prime minister to form the North American Free Trade Agreement.

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1992 - The Mexican president started to work with George H. W. Bush and the Canadian prime minister to form the North American Free Trade Agreement.

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This was like an agreement between the two countries, getting them to trade with each other. Some could say that it was beneficial to Canada, America, and Mexico, but it affected groups like local businesses since their crops sold for a lot less when goods from the foreign countries arrived.

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1994 - NAFTA was ratified and put into effect.

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1994 - NAFTA was ratified and put into effect.

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This created free trade area for Canada, America, and Mexico. These countries were able to exchange goods with each other, appeasing the receivers.

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Mid 1990s - CAFTA was created by the US and six Central American nations.

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Mid 1990s - CAFTA was created by the US and six Central American nations.

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All seven nation had come as one under one agreement of trade. This increased and expanded global trade, and they also outsourced the countries of jobs for labor.

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This treaty minimized the restrictions of international trade by reducing quotas, tariffs, and subsidies.

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1999 - the euro was adopted by 12 EU nations.

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1999 - the euro was adopted by 12 EU nations.

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Travel was made easier by reducing the need to exchange currency. European businesses can easily lock in the best prices from suppliers in other European countries.

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2007 - the global economy experienced worldwide financial troubles.

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2007 - the global economy experienced worldwide financial troubles.

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This was the start of the global economic problems, and the downfall for many countries.

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2008 - some insurance and mortgage companies, investment firms, and banks fell into bankruptcy.

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2008 - some insurance and mortgage companies, investment firms, and banks fell into bankruptcy.

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After the crash of the housing market in the United States, economic problems spread to all other countries. Trade decreased since America was one of the biggest consumers.

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2009 - the EU ratified the Lisbon Treaty that created a full-time presidential post and a new voting system that reflected each country's population size.

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2009 - the EU ratified the Lisbon Treaty that created a full-time presidential post and a new voting system that reflected each country's population size.

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This treaty brought the foreign countries together and gave power to Parliament.

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2010 - A European central bank was created.

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2010 - A European central bank was created.

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This generalized an aspect of trade for the European countries. They were all able to use the Euro after the bank was established, in different countries.