Economic Multilateralism in Peril

The Doha Round of multilateral negotiations is at a stalemate. The aid situation is changing as many countries are graduating from the soft loan arm of the World Bank Group. Developing countries built up their foreign exchange reserves to avoid borrowing from the International Monetary Fund (IMF), l...

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Published in:International studies (New Delhi) 2021-10, Vol.58 (4), p.425-441
Main Author: Agarwal, Manmohan
Format: Article
Language:English
Subjects:
Banking
Developing countries
Diplomacy
Geopolitics
Hegemony
LDCs
Multilateralism
Post World War II period
World War I
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description The Doha Round of multilateral negotiations is at a stalemate. The aid situation is changing as many countries are graduating from the soft loan arm of the World Bank Group. Developing countries built up their foreign exchange reserves to avoid borrowing from the International Monetary Fund (IMF), leading the IMF to retrench. This article explores the evolution of multilateralism from, essentially, its political roots to the economic area after the First World War (FWW), though in a limited way, and more fully after the Second World War (SWW). We then discuss how the workings of these economic multilateral institutions resulted in the current situation, where they risk becoming irrelevant. Finally, the article discusses the possible role of theG20 in the revival of multilateralism and, in particular, the role that developing countries might play in the revival.
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source Worldwide Political Science Abstracts; Sociological Abstracts; SAGE
subjects Banking
Developing countries
Diplomacy
Geopolitics
Hegemony
LDCs
Multilateralism
Post World War II period
World War I
title Economic Multilateralism in Peril
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