Is Multilateralism Possible in the Era of Bilateralism and Regional Blocs?

MULTILATERALISM, the principle of coordinating actions among multiple nations through international institutions, has long been considered a cornerstone of global governance.

- Srinath Sridharan

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.