Transforming Global Governance for the 21st Century

The rise of the global South is transforming global governance. It is creating new demands for multilateral institutions and jumpstarting regionalism. The result is a new range of strategic choices available to developing countries, and a new imperative to reform and reinvigorate multilateral and regional organizations. This paper explores the transformation of governance in four sectors—finance, health, migration and security—and highlights the implications for developing countries. In each area, developing countries have clear and powerful collective interests. There are also challenges for global governance. At one end is the relatively well-institutionalized area of finance, where reforming existing institutions is key. At the other end is migration, where global negotiations are needed, and institutions barely exist.