The ongoing power shift within the global economy calls into question the established structures of multilateral decision-making. Mainly two factors are responsible for the growing governance gap in international affairs. As the emerging powers of the South gain new prominence, the G7/G8 summit of the leading industrial countries, correspondingly, loses in significance. And as ever before, the United Nations do not provide effective mechanisms for policy coordination and collective action in economic and social affairs. A Briefing Paper by Andrew F. Cooper and Thomas Fues.
In order to simultaneously enhance the effectiveness and legitimacy in global governance two complementary tracks need to be undertaken in tandem: First, the UN’s ECOSOC has to be reformed in a way which allows it to function as an effective platform of global policy advocacy and coordination on economic and development issues. Second, the present G20 of Finance Ministers and Central Bankers needs to be elevated to the level of heads of state and government to become a Leaders’ 20 Summit or L20.
Access to the articles is free of charge during the pilot phase. But as of April 2006, the beginning of the regular subscription period, a special authorization will be required. Subscribers will receive a username and a password with their subscription.
At first glance, everyday life seems not to have changed in Istanbul. The streets are congested; people hurry to the ferry or the bus. For weeks, there has been no terror attack. Nevertheless, there are some visible changes. There are much more policemen in the streets. In some days, the Istiklal Caddesi, the main shopping street on the European side, seems to be under a state of siege. At every street corner, there is police van with the blue light switched on.
Recent disturbing trends in international finance have particularly problematic implications, especially for developing countries. The new United Nations report, World Economic Situation and Prospects 2017 (WESP 2017), is the only recent report of a multilateral inter-governmental organization to recognize these problems, especially as they are relevant to the financing requirements for achieving the Sustainable Development Goals (SDGs).
The Trump government signals unequivocally the end of international US hegemony. An international hegemon is able to define rules that find relatively broad acceptance internationally and plays a role in safeguarding international economic stability. The Trump government announced measures that go against the present economic rules while not proposing new ones.
The global deficit in quality jobs and deteriorating economic conditions in a number of regions threatens to undo decades of progress in poverty reduction, warns a new report by the International Labour Organization (ILO), the World Employment and Social Outlook (WESO) 2016.
Weakening of workers' rights in most regions is being aggravated by severe crackdowns on freedom of speech and assembly, according to the 2016 Global Rights Index. Restrictions on freedom of speech and assembly, including severe crackdowns in some countries, increased by 22%, with 50 out of 141 countries surveyed recording restrictions.