some financial organizations

GATT, General Agreement on Tariffs and Trade, and IMF, International Monetary Fund, were two main pillar of world capialism, especially based on America and few rich countries. But American based economy collpased and was divided into region because economic integration of neighboring countries deepened and founded EU, NAFTA and APEC. Due to integration of economy, the U.S suffered from agricultural crisis, decline of manufacturing industryand increase of service industry. So they tried to build new trade system. With advanced agricultural and service industries, they wanted to strengthen national power. They tried to avoild trade deficits. This pursuit of profits was reflected in Uruguay Round. Uruguay Round was an accelerator of international trade. International treaty was based on GATT. But as many countries signed u, more systematic organization was needed so WTO, World Trade Organization, was founded in January of 1995 after the conclusion of Uruguay Round in 1994 in Morroco. It containe an Agreement of Agriculture and Agreement of Sanitary and Phytosanitary Measures. WTO was a new multilateral trade organization which led the world trade in a new way since Uruguay Round. By establishment of WTO, there were complements of systems so traditional trade barrier was excluded and the movemnts of capital and source became free. Uruguay Round meant elimination of trade barriers and opening up markets to the world. Because of it, now countries could exchange everything except people and drugs. This caused an acceleraton of economic unification. Range of markets was expanded and competition of corporations aso expanded domestic to internationl.