Council on Foreign Relations Global Governance Update
November 2012

Dear Colleague:

Happy holidays from the International Institutions and Global Governance (IIGG) Program! Over the past few months, IIGG published three Working Papers on global economic governance, the future of ASEAN, and democratic internationalism; released two installments of the Council of Councils Global Roundup series; and contributed to broader foreign policy debates by hosting workshops on regionalism in the Middle East and Asia.

As we continue to develop new ideas, publications, and tools to illuminate contemporary global issues, we invite you to read our newsletter, explore our website, and "like" us on Facebook.

Sincerely,

Stewart M. Patrick
Senior Fellow and Director of the International Institutions and Global Governance Program

 

Newly Released

The Irony of Global Economic Governance: The System Worked

Daniel W. Drezner

The 2008 financial crisis posed the biggest challenge to the global economy since the Great Depression and provided a severe "stress test" for global economic governance. However, Daniel W. Drezner of Tufts University concludes that, contrary to conventional wisdom, structures such as the International Monetary Fund (IMF) and the G20 responded to the financial crisis robustly. Global trade and investment levels have recovered from the recession and existing global governance structures, particularly in finance, have revamped themselves to accommodate shifts in the distribution of power. In short, international financial institutions passed the stress test. Read the Working Paper »

Assessing ASEAN's Future

Joshua Kurlantzick

In a region largely bereft of regional organizations, the Association of Southeast Asian Nations (ASEAN) has been the most significant multilateral group in Asia for the past forty-five years. Since its inception in 1967, ASEAN has largely achieved its initial purpose of preventing Southeast Asia from further outbreaks of war following the Indochina Wars, and has also accomplished several notable acheivements in the economic and nonproliferation realms. Yet ASEAN today lags woefully behind its full potential. In this Working Paper, Joshua Kurlantzick analyzes the major obstacles facing ASEAN today and prescribes recommendations for the both the United States and ASEAN that will enable ASEAN to firmly establish itself as the essential regional organization in Asia. Read the Working Paper »

Initiating a New U.S. Grand Strategy for a Post-Exceptionalist Era

Daniel Deudney, G. John Ikenberry

In this IIGG Working Paper, Daniel Deudney of Johns Hopkins University and G. John Ikenberry of Princeton University trace the history of liberal internationalism and find that the existing U.S. foreign policy architecture is ill-equipped to address emerging challenges in a changing global landscape. To reestablish its historical role as an indispensable global leader, the authors argue that the United States should initiate a new phase of democratic internationalism based on the "pull of success rather than the push of power" that "deepens democracy globally, prevents democratic backsliding, and strengthens and consolidates bonds among democratic states." Read the Working Paper »

Rising Regionalism

In October, the Council on Foreign Relations and the S. Rajaratnam School of International Studies convened the first ever Council of Councils regional conference: "Asia at the Crossroad: Regional Priorities for the Twenty First Century." The high-level gathering discussed and debated four major themes: stabilizing the global financial system, advancing trade liberalization, strengthening maritime security and freedom of navigation, and assessing the proliferation threat in Asia.

In November, as part of its Making Multilateralism Work workshop series, IIGG and the American University in Cairo cosponsored a workshop on "Regional Cooperation in the New Middle East" in Cairo, Egypt. Blogging from Cairo, Stewart M. Patrick observed: "It is a paradox of the modern Middle East that an area so rife with common security, economic, and ecological challenges should be such an institutional desert when it comes to regional cooperation."

The Global Roundup

In two recent installments of the Global Roundup, a monthly collection of opinions from international experts on major global events and breaking news, experts discussed the role of the United Nations and the future of global governance, and weighed in on the prospects for meaningful reform of the IMF's governing structure. The Global Roundup is part of the Council of Councils initiative, which aims to connect leading foreign policy institutes from around the world in a common conversation on issues of global governance and multilateral cooperation. Read About the Series »

The Internationalist

In his blog, Stewart M. Patrick looks beyond the headlines at the forces transforming global politics and how the United States should respond.

Join the conversation at http://blogs.cfr.org/patrick/.

 

 

The International Institutions and Global Governance (IIGG) program aims to identify the institutional requirements for effective multilateral cooperation in the twenty-first century; propose reforms to strengthen or replace international institutions; and promote effective responses by the United States and its partners to today’s daunting global challenges.

Stewart M. Patrick
Senior Fellow and Director

Farah Thaler
Associate Director

Isabella Bennett
Assistant Director

Alexandra Kerr
Program Coordinator

Patrick McCormick
Research Associate

Claire Schachter
Research Associate

Martin Willner
Research Associate

Jeffrey Wright
Research Associate

 

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