fFr relatively smaller Southeast Asian nations, multilateralism is simply too important to fail. Done right, it provides a perch of equality and effective cooperation for complex challenges that no one country–even a small group of powerful countries–can handle alone.
Its opinion, though nonbinding, shattered the entire framework for U.S. engagement on Israel-Palestine peace.
Fundamental questions complicate any steps to reforming these global economic institutions: Are they fully devoted and uniquely equipped to deal with development?
Global economic governance needs to address climate change, global demographics, and digital transformations to ensure that economic benefits are evenly distributed.
Global economic governance has demonstrated remarkable resilience in the face of multiple shocks. Yet its failure to confront challenges like climate change risks further disorder.
Climate policy must go beyond purely economic targets. Effective policymaking must also mobilize societies because success depends on their solidarity and agency.
An obsession with growth has generated massive inequality, undermined global economic stability, and weakened faith in democracy. Reversing these trends requires reining in the power of financial capital and managing global trade flows.
