International Institutions in Decline? A Critical Analysis of Global Governance in an Era of Great-Power Rivalry

Abstract

Renewed great power rivalry, geopolitical fragmentation and divergent visions of the international order are putting global governance under greater pressure. This article considers questions about leading institutions - the United Nations, World Trade Organization, International Monetary Fund, and World Health Organization - whether they are suffering from an institutional decline or strategic adaptation. The study assesses their performance in the fields of security, trade and finance, public health and environmental governance using a qualitative and analytical approach. It suggests that the geopolitical rivalry between the United States and China and the amalgamation of the two powers with Russia have aggravated not only the intergovernmental paralysis but also legislative and executive complacency, doubts regarding the legitimacy of the rules and arrangements, and other parallel governance structures. The continued role of these bodies in offering forums, rules and coordination mechanisms have diminished in areas where major power interests come into conflict. The results show that institutional decline is not absolute, however. The final conclusion is that the success of multilateral governance depends on representative reform, on flexibility in procedures, on accountability, and on mechanisms important in limiting rivalry and maintain cooperation on common global problems.