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Globalisation and governance: towards a new global order

Much has been written about the inability of the current liberal global economic system to solve the problems of the unequal development of the global economy and its attendant problems of conflict, poverty, population growth, environmental degradation, migration pressures etc. “If the world of the rich do not meet these challenges, the prospects for migration pressures and endemic instability in the world of the poor will create a global pattern of chronic warfare and political threats from maverick or rogue states and desperate peoples. A liberal global economy does not ensure that these issues will be addressed”. (Mosler and Catley 2000: 190). In order to manage problems of transnational activities and relationships, new forms of public governance are needed. The paper examines how well global institutions are governing in an increasingly uncertain and interdependent global community, looks at a number of reforms and new arrangements, particularly the Group of 20 (G-20); and assesses how effective the G-20 might be in broadening the governance table.