Navigating A World In Shock

Global Voices

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By Bertrand Badré, Former MD, World Bank: By Bertrand Badré, Former MD, World Bank: Overlapping shocks and a breakdown in international cooperation has made crisis management all but impossible at least with the standard tools.

The international institutions, norms, and practices that we continue to rely on are increasingly being eclipsed by geopolitics. Whatever their rhetoric, China, Russia, and the United States have lost faith in global institutions, withholding their support whenever it suits their interests. While the European Union, Japan, the United Kingdom, Canada, and major players from the Global South continue to support multilateralism, global governance cannot really be sustained without the participation of the world’s largest economies and military powers.