Rising Powers and Global Governance

The largest emerging economies—China, India, Brazil, among others—were the economic stars of the last decade. With growing economic weight came demands for a larger role in major global governance institutions. These rising powers also demonstrated their ability to promote or veto global negotiations in issue areas from trade to climate change. Although their economic growth has recently slowed, these emerging economies will exert growing influence on the architecture of global governance. Given their deepening integration into the international economy, they could become "responsible stakeholders," stalwart supporters of the existing rules of the game. In the absence of institutional reforms, such as changes in IMF and World Bank governance, rising powers could challenge the existing order, creating their own parallel or alternative institutions. Finally, demands from their citizens for economic and social advancement could point to a future of limited global engagement and free riding on the existing rules of the game. I am exploring these alternative futures in articles and a book-length study. I also convene a roundtable series on Rising Powers and Global Governance to explore these issues.