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b'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. \\n\\nThis trend has challenged the three most prominent intergovernmental bodies in these areas\\u2014the World Health Organization, the World Trade Organization, and the World Bank.\\n\\nThey now need to adapt to a new world order where they play a less central role.\\n\\nAfter World War II, governments around the world forged international agreements and treaties, forming global bodies to promote international good in almost every social sphere. \\n\\nIn 1944, the World Bank\\u2019s predecessor, the International Bank for Reconstruction and Development, was established to help rebuild economies devastated by the war. \\n\\nThree 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 as the United Nations\\u2019 specialized agency for health.\\n\\nBut in the 1990s, new actors\\u2014nonstate and nongovernment organizations\\u2014emerged, challenging the authority of the WHO, the WTO, and the World Bank, says Matthias Helble, senior economist and co-chair of the research department at the Asian Development Bank Institute.\\n\\nRead the transcript\\nhttps://bit.ly/2ue7k3l\\n\\nRead the working paper\\nhttps://www.adb.org/publications/comparison-global-governance-across-sectors-health-trade-development-finance \\n\\nAbout the authors\\nMatthias Helble is senior economist and co-chair of the Research Department at the Asian Development Bank Institute.\\n\\nJera Lego is an ADBI associate.\\n\\nZulfiqar Ali was an ADBI associate at the time the research was published.\\n\\nKnow more about ADBI\\u2019s work on\\nTrade\\nhttps://bit.ly/2oTzgng\\nhttps://bit.ly/2D3NTJH\\n\\nHealth\\nhttps://bit.ly/2pxdEyb\\nhttps://bit.ly/2HVr2CZ'