Rethinking Global Economic and Social Governance

This paper presents a new typology of global cooperation for development, based on three objectives: managing interdependence, furthering the development of societies, and gradually overcoming the asymmetries that characterize the world economic system. It then explores the nature of these asymmetries and proposes that the concept of “special but differentiated responsibilities” offers the best framework for handing the special issues of developing countries in the global order. Finally, it develops a five point agenda for improving global economic and social governance structures: creating a dense network of world, regional and national institutions; ensuring the equitable participation of developing countries in global governance; creating a Global Council of the broad UN system, based on representation by constituencies; guaranteeing a better coherence of the decentralized system that characterizes global arrangements in the economic and social field; and effective accountability for international commitments.