New Challenges

"Cooperation is to address macroeconomic policies, and on trade, aid and the need for a fair and equitable system to protect intellectual property."

There is no world government to regulate all the facets of globalization, and very few people want one. Yet to manage globalization to ensure that all enjoy its benefits, there is a need for more comprehensive global governance—a system of international law based on the principle of multilateralism that will spell out the ground rules for all participants in the global economy.

 

Many areas of interdependence need global attention. The benefits of a globalized economy must be accompanied by greater global cooperation to prevent and contain the spread of "global bads," such as the spread of economic crises, epidemics, environmental degradation, crime and drugs. Cooperation is to address macroeconomic policies, and on trade, aid and the need for a fair and equitable system to protect intellectual property.

"The Secretary-General thinks, as a result of globalization, the world’s commitment to the poor is being recognized not only as a moral imperative but also as a common interest."

At present, there are organizations to address many of these issues, but by and large, their work is uncoordinated, and poorly supported by the international community. To achieve a more integrated degree of policy coherence, gaps must be filled and existing structures improved. Not to dominate national governments and overpower cultures and societies, the essential role for global governance is to define objectives, set standards, and to monitor compliance.

 

The United Nations, a treaty organization made up of 191 countries, is part of the answer. But to address the needs of people, it needs the support not only of governments, but also of civil society, the private sector, parliamentarians, local authorities, the scientific community, and many others.

 

The Secretary-General thinks, as a result of globalization, the world’s commitment to the poor is being recognized not only as a moral imperative but also as a common interest. Each country must still take primary responsibility for its own programmes of economic growth and poverty reduction. "By ridding the world of the scourge of extreme poverty is a challenge to everyone of us. It is one that we must not fail to meet," he urges in the Millennium Report.

 

To this end, the Secretary-General proposes concrete actions, urging the developed countries in particular to:

  • Grant free access to their markets for good produced in poor countries.
  • Implement debt relief programme, including cancellation of all official debts of the heavily indebted poor countries, in return for those countries making demonstrable commitments to poverty reduction.
  • Grant more generous development assistance.
  • Work with pharmaceutical companies and other partners to develop an effective and affordable vaccine against HIV.
  • Make special provision for the needs of Africa.