International Organisations, Agreements And Governance

1376 Words Aug 3rd, 2016 6 Pages
‘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. Examples 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 elaborate…
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