Despite the dire predictions that have accompanied the decline of global governance, less international cooperation does not necessarily mean disaster. In fact, national governments can prioritize domestic prosperity and social cohesion over multilateralism without harming the global economy.
CAMBRIDGE – Commentary on the world economy has never been short of exhortations for greater global cooperation. “What happens anywhere affects everybody … [so] it is pretty clear that the world needs more … international coordination and cooperation,” wrote a leading International Monetary Fund official in 2013. “[V]irtually every problem destabilizing the world … is global in nature and can be confronted only with a coalition that is global,” echoed a leading columnist in 2019.
CAMBRIDGE – Commentary on the world economy has never been short of exhortations for greater global cooperation. “What happens anywhere affects everybody … [so] it is pretty clear that the world needs more … international coordination and cooperation,” wrote a leading International Monetary Fund official in 2013. “[V]irtually every problem destabilizing the world … is global in nature and can be confronted only with a coalition that is global,” echoed a leading columnist in 2019.