Following providing forum for trade negotiation, administer trade

Following the prolong conflict that produce a big destruction, states identities and interests change to value on economic development since the losing of resources from the costly wars. And the major reason is that they need to rebuild their states, specifically the infrastructure which require a big amount of money. As states start to recognize that economic was the major factor that could enhance their power in which they can acquire what they need, states give more value to IGO than in the past in which they extend their cooperation, mainly on the economic aspects. Thus, WTO, WB, and IMF which are the important of those related pieces and actors have been created. States create WTO since they give values with the belief that they can negotiate and internationalize market across border through the organization. As a world trade system, WTO has important functions in providing forum for trade negotiation, administer trade agreement that concluded by the governments, and mechanisms for trade disputes settlements (Oatley, 2012). In addition, states can receive great gain through two core principles in the WTO which are market liberalism and non-discrimination. For Market Liberalism, states would gain from trade and enjoy the higher living standard by liberalizing trade across border. (Oatley, 2012) And for Non-discrimination, every member will be given an equal opportunity to trade with all WTO members. Two forms have been provided: MOst Favored Nation and National Treatment. Among them, WTO tries to ensure that all member states will be treated equally to access foreign markets, regardless within or between states. (Oatley, 2012) As the result, many agreements have been made by WTO including Treaty of General Agreement on Trade in Services (GATS) come into existence in Jan 1995, Agreement of Trade Related Aspects of Intellectual Property Rights (TRIPs), and WTO Agreement on Agriculture.World Bank and IMF are playing important roles in providing loans to member states that needed which drawn the attention from states. Since the 1980s, the position of these institutions has been rising in which states give more value in the return of getting loan in order to stable or even improve their economic development, specifically the developing countries. For instance, in the early 1980s following by the crisis that developing countries unable to pay the dept they owned, as the result, those countries asked for the financial assistance from World Bank and IMF. Loan will be provided with the condition that states need to adopt reform policy follow neoliberalism named Structural Adjustment Programs that include the policy such as stabilize macroeconomic environment by keeping inflation low, higher saving for further investment; liberalize trade by encouraging export more than import; and privatize state-owned enterprises by reducing the role of government and let market control resource. (Oatley, 2012) However, since some states have lost benefit from the reform, the implementation of Structural Adjustment Programs existed only between 1983 to 1995. Therefore, we can see that, states still the most important actor that make decision according to their idea and interest that could deeply affect other actors and pieces in the Global Governance.