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18. Governance and Organizations in Global Politics  

This chapter examines the ways in which governance and organizations influence global politics. It first provides an overview of what an international organization is, focusing on intergovernmental organizations and non-governmental organizations, before discussing the rise of organizations in the global sphere from the nineteenth century onwards. It then takes a look at the major intergovernmental institutions that emerged in the twentieth century and which have played a major role in shaping global order, including the League of Nations and its successor, the United Nations (UN). The chapter concludes with an analysis of ideas about social movements and civil society, along with their relationship to contemporary governance and organizations.

Chapter

Cover The Globalization of World Politics

28. Global trade and global finance  

Matthew Watson

This chapter explores important issues in the conduct of global trade and global finance. In particular, it looks at how the Covid-19 pandemic has changed the experience of global trade and global finance in recent years. It asks why the global economy is so good at allowing some people to own untold riches while many others have too little money to meet basic subsistence needs, and whether the world would be better or worse off without the institutions of global economic governance. After discussing the globalization of trade and finance, the chapter considers the regulation of global trade and global finance. Two case studies are presented, one dealing with the Covid-19 vaccination programme and global economic recovery and another looking at US President Joe Biden's proposed global minimum corporate tax rate.

Chapter

Cover The Globalization of World Politics

27. Global trade and global finance  

Matthew Watson

This chapter explores important issues in the conduct of global trade and global finance. It asks why the global economy is so good at allowing some people to own untold riches while many others have too little money to meet basic subsistence needs, and whether the world would be better or worse off without the institutions of global economic governance. After discussing the globalization of trade and finance, the chapter considers the regulation of global trade and global finance. Two case studies are presented, one dealing with the ongoing trade war between the US and China and the other with the effect of tax havens on overseas aid budgets. There is also an Opposing Opinions box that addresses the question of how far the institutions of global economic governance currently go to work specifically to the benefit of developing countries.