Anna Jaguaribe, Trustee at CEBRI
This webinar is part of a research on the re-orientation of multilateralism. How the deterioration in the multilateral scenario - trust, negotiations and institutions - and changed conditions of globalization are altering the regulatory and policy scenario of the global economy. We focus on three sectors for which regulation and agreement is paramount: trade, digital economy and sustainability. The object of our reflection is what are the directions and possible basis upon which to redirect multilateral politics. Our work is based on a set of premises. Firstly, that the political framework of multilateralism is frail and more than ever necessary. Problems stem from: institutional mandates which are weak, the fact that the coalition of power which has shaped this framework is no longer representative of global reality, and the changed direction of economic development and growth factors upon which the Bretton Woods economic assumptions were based. Furthermore, the economic operational assumption that there is a positive relationship between global investments and regulation - efficiency and resilience - which moved the globalization of the 90’s is no longer tenable, and finally and no less relevant, the capacity of the system to accommodate change within the existing paradigm is low.
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