Although migration policy trends in Global North and South countries diverge, the two hemispheres both stand to benefit from a more open labor market and more cohesive global migration governance.

To safeguard its financial resources, the continent needs a cohesive strategy for promoting international tax cooperation.

Calls for a new Bretton Woods elide considerable disagreement. There are many competing views of the post-1945 international economic order, and each generates alternative understanding of how Bretton Woods should guide today’s proposed reforms.

With the addition of new members in BRICS+, the group of emerging powers will be more globally representative­—but also face more internal divisions.

A new paper, Trade Intervention for Freer Trade, Michael Pettis, a nonresident senior fellow in at the Carnegie Endowment for International Peace, and Erica Hogan, a research assistant in the Carnegie Global Order and Institutions program, assess policies that could create a new global trading system that preserves the freedom of nations to direct their economies while harnessing the benefits of trade. Please join Stewart Patrick, director of the Global Order and Institutions Program, for a conversation with Michael Pettis on these and other issues.

By targeting specific trade violations rather than balanced flows, global trade policy has been focusing on the wrong outcome. New trade rules are needed to create an international trading system in which comparative advantage allocates production.

The vast majority of UN member states still support multilateral cooperation, but disagreement over the scope of reform has been a major flashpoint.

Demand is growing for more representative and equitable global institutions that are capable of managing the risks and opportunities of interdependence—such as accelerating climate change and rapid technological innovation.

The time is ripe to transform global economic governance. Policymakers must seize this opportunity to overhaul development financing, reform the international monetary system, restructure sovereign debt, and improve global tax cooperation.

The world may be moving past neoliberalism, but it is hampered by an out-of-date approach to investment. Improving the quantity and quality of international public spending is required to combat the climate emergency. 

Pressure is growing to raise taxes on the world’s superrich, and the United Nations has an opportunity to turn this momentum into irreversible change. 

Providing and financing international public goods to cope with the global challenges in a fractured global order will require bold and innovative approaches.