Rethinking Global Economic and Social Governance*
Rethinking Global Economic and Social Governance*
Recent years have been characterized by growing frustration with globalization. At the heart of the disappointment with current globalization is the deficit in governance. Indeed, the weakening of nation-states during the recent wave of globalization has not been substituted by new forms of governance of a regional or global character. Furthermore, the nation-state continues to be primarily responsible for the development of societies, but the effectiveness of its actions has been eroded by global processes. This erosion encompasses again a broad set of areas, from the capacity to strengthen social protection, to macroeconomic and financial stability, to environmental sustainability. This chapter outlines a way to rethink global economic and social governance. The first part proposes a new typology of the objectives of international cooperation for development. The second analyzes the asymmetries of the global order and its implications for global cooperation for development. The third takes a look at principles and at challenges in designing new global governance structures. The last part briefly draws some conclusions.
Keywords: globalization, global governance, nation-states, economic governance, social governance, international cooperation
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