Reforming From The Top

Download or read book Reforming from the Top written by John English and published by United Nations University Press. This book was released on 2005 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current system of international governance (including the United Nations, the G7/G8, the WTO, the IMF and the World Bank) is undergoing serious problems in its attempts to address contemporary global challenges, seemingly ill-equipped to bridge growing political and economic divides and to accommodate the needs of emergent markets. Given these developments, some scholars and practitioners argue there is a need to establish new multilateral forums that reflect 21st century realities, such as a new Leaders Summit comprised of the leaders of 20 nations (called L20, an institution that draws its inspiration from both the current G7/8 leaders' meetings and the G20 finance ministers' meetings). This publication explores the changing nature of relationships in a globalised world and considers the role that a L20 grouping could play in bringing about reform of international economic and financial systems.