“The world has changed and has become multi-polar, less dominated by the US, to a point where reaching decisions at the global level is increasingly complex and difficult to achieve,” said Merit E. Janow, Dean of the School of International and Public Affairs at Columbia University.
“It becomes more challenging given that a number of countries around the world and specifically in the Asia Pacific region are seeking greater influence within international bodies, such as the World Bank, International Monetary Fund, World Trade Organisation, United Nations and G20,” said Janow.
“These countries, particularly in Asia, are taking steps to create their own regional institutions because they feel they are unable to have the degree of voice and influence in the established bodies that they perceive is appropriate.
“International organisations and bodies need to adjust to this new reality and ensure that important developing nations have a greater voice,” he added.
The conference heard that China, Japan and India formed three of the four leading global economies, along with the US as the fourth.
From Agencies, Feature image courtesy ibtimes
