Ever since the aftermath of World War II, many countries, especially the US and the European countries, released that in order to overcome the financial and economic crisis, the nations need to expand their businesses and help each other by sharing resources and removing trade barriers. The formation of United Nations was itself a platform where all the nations meet and formulate the strategies to overcome from the difficulties. In 1984, World Trade Organization was formed with the purpose of promoting international trade and reducing trade costs.
All such actions has lead to term called ‘Supranationalism’, which means the transcending the national boundaries. After WWII, many European countries, considered it the time of need to establish good relationship with each other by promoting the economic deals such as trading systems, which also helped in maintaining peace. The first true concept of supranational force was practiced by six European countries, when they formed the European Coal and Steel Community.
The objective of the committee was to share the coal and steel resources of Europe, under a single platform. By creating supranational forces, the cooperation and coordination among the participating countries increases and helps in creating constructive agreements. By encouraging multi-lateral trade activities among nations has really improved the living standards of the people i. e. by giving them more buying options at reasonable rates.
After postwar, the both American and European banks, decided to the take the opportunity to value its currency by expanding operations. The concept of forming supranational forces will always be encouraged only if they it benefits every party, and this can only be possible by creating clear common interests, which should also align the national interest. So far, the Supranational forces having been playing positive role in promoting trade, as well as harmony, among the nations. But proper check and balance should be kept on such forum i. e. they should not deviate from their common interests and start dictating their terms on other as well.
• Arthur MacEwan. The money mandarins: the making of a supranational economic order. 1987. Retrieved 15 December, 2008. <http://findarticles. com/p/articles/mi_m1132/is_/ai_5096050> • Alyson W. Kienle, Nicole L. Loyd. Globalization and the emergence of supranational organizations. 2005. Retrieved 15 December, 2008. <http://findarticles. com/p/articles/mi_m0FCR/is_3_39/ai_n15384404/pg_3>