Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Next month, when finance ministers and central bank governors from more than 180 countries gather in Washington, D.C., for the annual meetings of the International Monetary Fund and the World Bank, they will confront a global economic order under increasing strain. Having failed to deliver the inclusive economic prosperity of which it is capable, that order is subject to growing doubts – and mounting challenges. Barring a course correction, the risks that today's order will yield to a world economic non-order will only intensify.The crisis did not appear out of nowhere to challenge a healthy economic order.For example, governance structures, including voting power, correspond better to the economic realities of yesterday than to those of today and tomorrow. The destabilizing consequences of this obstinate failure to reform sufficiently multilateral governance have been compounded by China's own struggle to reconcile its domestic priorities with its global economic responsibilities as the world's second-largest economy.All are casting a shadow on the future of the global economic system.Over time, the risks associated with this shift toward a global economic non-order could have severe adverse effects on geopolitics and national security.
Lagarde’s edge is Europe’s main opportunity
Who lost Argentina, again? Reprising a tragedy
Trade disruption symptom of
FOLLOW THIS ARTICLE