Asia's Developing Future

Global governance has undergone significant change since the late 1990s, with the number of global players in health, trade, and development finance rapidly increasing, mobilizing more funds for health and development in developing countries, and spurring global trade. This trend has challenged the three most prominent intergovernmental bodies in these areas—the World Health Organization, the World Trade Organization, and the World Bank. They now need to adapt to a new world order where they play a less central role. After World War II, governments around the world forged international agreements and treaties, forming global bodies to promote international good in almost every social sphere. In 1944, the World Bank’s predecessor, the International Bank for Reconstruction and Development, was established to help rebuild economies devastated by the war. Three years later, the General Agreement on Tariffs and Trade, which over time evolved into the WTO, was formed. The WHO was set up soon after in 1948 a