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Rendered irrelevant
Business Standard
|October 09, 2025
US consent was all that kept multilateral institutions going
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Does the multilateral system still have something to offer the world? For allits holes and inefficiencies, till relatively recently it still remained the mechanism through which major issues of global significance could be addressed.
But holes were created in the system by the United States (US) breaking norms during the decades in which it remained unchallenged, and the problems were further expanded by the rise of China as a disruptive power. Now that, during the second administration of President Donald Trump, the US has actively turned against the notion of multilateralism, it seems that major outstanding issues — from macroeconomic stability to trade management to security disputes — are no longer being dealt with through the multilateral system.
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