As the world grapples with unprecedented global challenges, from climate change to pandemics to geopolitical tensions, the relevance and effectiveness of multilateralism, once hailed as a panacea for global governance, has come under serious question. The rise of bilateral and trilateral nation deals, the formation of regional blocs, and the inward-looking policies of some global politicians have cast a shadow of doubt over the future of multilateralism as we knew it.
Multilateralism, which emphasises collective action, shared responsibilities, and inclusive decision-making, has long been heralded as the cornerstone of global governance. International institutions such as the United Nations, the World Trade Organization, and the World Health Organization were created with the vision of fostering multilateral cooperation to address common challenges. However, in recent times, the cracks in the foundation of multilateralism have become increasingly evident. The UN, once seen as the pinnacle of multilateral cooperation, has long been facing criticism for its inability to effectively address global challenges due to issues such as veto powers, lack of its own reforms, and erosion of trust among member states. Similarly, the WTO has struggled to make progress in multilateral trade negotiations, with countries increasingly resorting to bilateral or regional trade deals, undermining the principles of multilateralism.
Diese Geschichte stammt aus der 01 July 2023-Ausgabe von Business World India.
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Diese Geschichte stammt aus der 01 July 2023-Ausgabe von Business World India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
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Powerful, Peculiar Perquisites
MOST COMPANIES recognise that people are key to their success. Competition is all about the war for talent. Higher compensations can, in many cases, attract that brilliant leader or the tech genius, but a competitor may well offer even more. This race is financially draining and not really a great strategy.
Shaping The Future Of India's Infrastructure
RUPEN PATEL on the achievements of the engineering and construction major including the iconic projects rendered by it, nation building, focus on sustainable practices and much more
WHY DON'T WE SUE BRITAIN?
I WAS WORKING ON my next column for BW – on one of my favourite themes like ‘Sustainability’, ‘Inclusivity’, ‘India Shining’ etc.
LIFE AND TIMES OF A MEDIA TITAN
DD Purkayastha's autobiography captures his 42-year tryst with the ABP Group, delving into various aspects of his professional and personal experiences, as well as insights into the factors that have shaped his character and career trajectory
THE SONET STRIKES BACK
The sub-4-metre SUV segment in India has been a battlefield for automakers, each vying for supremacy with their unique propositions. With the launch of 2024 Kia Sonet, the South Korean automaker is sharpening its edges in this competitive market
SLEEK, SUBTLE, COMPACT AND EASY TO CARRY
The HP Omen Transcend 14 targets a niche market that is growing day by day. Statistically, never in history, was there a better time to launch a gaming laptop, says Deep Majumdar
Geopolitical Resilience for Indian Companies
It's in crisis that inventiveness is born, as well as discoveries made and great strategies arise. He who overcomes crisis, overcomes himself, without getting overcome. - Albert Einstein
The Sourav Ganguly Era
Lessons in Leadership from Indian Cricket - 2
Leadership Challenges Were Not This Long, Before
LEADING IN TODAY’S dynamic environment presents unprecedented challenges. The list of challenges is never-ending. They include navigating complex decisions, staying resilient, inspiring teams, staying innovative, and continually adapting to the constantly changing ecosystem.
The Supreme Court Emerges as a Net Zero Polestar
'Dharma exists for the welfare of all beings. Hence, that by which the welfare of all living beings is sustained, that for sure is dharma,' - Mahabharata (Shanti Parva 109.10)