International Organisations, Agreements And Governance

‘No man [or woman] is an island’ is a sentence that captures humanity’s need for interaction in order to secure its best interests. In the context of international trade, supranational structures are necessary for all parties’ best interests. With globalisation proceeding at an ever increasing pace, the frequencies and magnitudes of economic interactions between actors of different states increases exponentially (Nye, 298). Growing complex interdependence creates a common interest for cooperation, in terms of pursuing a common framework of regulation and establishing a common standard (Nye, 299-301). As such, this begs the question of how the above can be implemented and achieved. International organisations, agreements and governance is the functionalist answer to the above question (Rourke, 165), even under the framework in which states only consider self-interests. Throughout the course of time, these instruments have grown in number and complexity. Exam ples of their more rudimentary forms are the International Telecommunication Union (ITU) and the Universal Postal Union (UPU), which were both established more than one and a half centuries ago, providing a common technical standard among states (Rourke, 137). In the past century, more sophisticated forms of international governance in political economy evolved. For example, the General Agreement on Tariffs and Trade (GATT) Uruguay Round in 1996 established the current World Trade Organisation (WTO) and an elaborateShow MoreRelatedThe World Of The Global Community1438 Words   |  6 PagesAs technology, makes our world a much smaller, much more diverse place, the role of nation states is bring reduced. Global organisations are taking on a more expansive role in the governing of the world. Organisations such as the United Nations, The World Bank, the World Health Organisation, the G8 and the G20 taking on important roles in regulating all facets of the policy around the world. 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