Synthesis Report

Abstract

The radical transformation of the system of global economic governance has become increasingly urgent. Events in the last years of the 20th century and at the turn of the millennium have underlined the fact that both the structure and the key institutions of the current international system are deeply dysfunctional. The Asian financial crisis in 1997, the unraveling of the World Trade Organizational ministerial meetings in Seattle in 1999 and Cancun in 2003, the stock market meltdown in 2001-2002, the collapse of the Argentine economy in 2002—these are among the milestones in the crisis of legitimacy that now pervades the system and its key actors.