Colin Bradford is the Guest Blogger for this Post. He is a senior non-resident fellow at Brookings in Washington. He is a also a Principal of the Vision20 and a Co-Chair of the China-West Dialogue all with Yves Tiberghien, Professor of Political Science, University of British Columbia and Alan S Alexandroff Director the Global Summitry Project of Munk School of Global Affairs & Public Policy, University of Toronto and the Blog Master here at RisingBRICSAM
The underlying political driver of the current tensions in the global order is the actual or potential failure of economies to deliver social outcomes that are politically sustainable. This is not just a phenomenon that brought about Brexit and Boris Johnson in the UK or Trump in the US – now apparently unelected. This has been, and is, the drama of developing economies for decades. The failure to deliver social outcomes that are politically sustainable is the source of social unrest now in Eastern Europe, the fear of the Communist Party of China, and the discontent of Europeans with the strictures of the EU. It is global and deep seated; sweeping and systemic.
Populist nationalism is on the rise and authoritarianism is increasing as a result. The easy road for politicians to take today is to appeal to national strength and rally their publics around the flag. The hard road to take is seize on this moment of hyper-interconnectivity revealed by the COVID 19 crisis and realize that strong multilateral cooperation and coordination is essential for global health and economic recovery in the short run and systemic transformation in the medium and long run.
The urgent necessity is for governments, societies and firms to realize that there is no going back to normal, that systemic crises require systemic change and that social priorities and people-centered policies are vital to restoring confidence in markets and governance.
But to systemically transform the social order reinforcement, resonance and support from the global system of international institutions is the new global governance priority. Multilateralism needs to be revived to create innovative responses to these new domestic social priorities. Strengthening the WHO, the ILO, the OECD and the multilateral regional development banks is necessary so that they can become the drivers of the international system as front-line innovators, taking on the dominant norm setting roles that the IMF, World Bank and WTO assumed during the Bretton Woods era.
The fact that social priorities are primordial domestic priorities does not mean the international institutions have no role to play. To the contrary, key roles of international institutions are essential now through peer reviews, sharing best practice, and widening the array of policy options for national governments to engage in selective borrowing for internal application based on national criteria, culture and practice. The funding international institutions provide provokes dialogues with governments and societies about priorities and challenges which enable countries to take advantage of global knowledge frontiers embodied in the experience of international institutions. Returning to knowledge-based policy making in national practice, which is sorely needed now, can be facilitated by these interactions between global institutions and national governments.
New forms of multilateralism and a new global order need to support transformation in the social order. This force field also operates in reverse. Social transformation would strengthen societies as a whole such that the new social order would support the global order by: reducing ‘my-country-first’ nationalism, unilateralism, and dampen geopolitical tensions. The social order and the global order would be in constructive symbiosis instead, as currently, in rather destructive dynamics of a bipolar competitive era.
The new nexus between economics, society and the global order would create positive synergies toward better futures and greater systemic sustainability.
Image Credit: TechCrunch