The pattern of uneven development brought about by globalization so far has been sustainable neither economically nor environmentally, nor has it been feasible politically. Moreover, the global financial crisis has exposed serious weaknesses not only in the world economy but also in global economic governance. Although a remarkable spirit of multilateralism has prevailed in the responses to this upheaval, it cannot hide the shortcomings in institutions and rules that were shaped, for the most part, more than 60 years ago. Since then, world conditions have become much more complex and there is much greater interdependence across nations.

Related Subject(s): Economic and Social Development
Sustainable Development Goals:
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