A Different Global Governance: Taming the Excesses of Realpolitik

..., the blueprint of the construction of global governance has never been predicated on considerations of economic efficiency, inclusivity or equitable globalism, but was at the outset based on Realpolitik considerations and was performed in a largely unilateral (i.e. Western-led) setting. A new global governance construct needs to change the balance between national self-interest and international cooperation in the world economy. It also needs to look at the economic efficiency consideration of how the global governance structure is to be formed with due account paid to issues such as externalities and spillover effects across countries and regions. At the level regional ...