In an increasingly interdependent world facing global challenges, the question of how to govern and build systems capable of addressing both present and future issues has become more urgent. The legitimacy and effectiveness of current multilateral institutions are often questioned, with many perceiving them as outdated and unreflective of the shifting global balance of power. Even if these institutions were to better represent today’s world, doubts remain about whether they could effectively tackle the growing challenges ahead.
The rise of a multipolar international order introduces both complexities and opportunities. The return of great power competition, the influence of regional powers, and the risk of conflicting strategic outlooks all present significant obstacles to achieving solutions for global governance. However, there is also potential for collaboration between emerging and established powers, which could strengthen existing institutions and foster new approaches to addressing global challenges.