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Reimagining Multilateralism In A Fragmented World: Can Global Institutions Still Deliver Peace And Prosperity? – OpEd

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The recent attack on Venezuela by America poses a serious issue, where the global institution positions itself as a bystander, asking the serious question.  The respect for sovereignty and territorial integrity was compromised. Global Institutions usually surrender their power when a major power is involved. The rise of conflict, threats, poverty, hunger, armed conflicts, terrorism, insecurity, and climate change poses serious threats to mankind(United Nations, 2021). The collective action has still not been taken by global institutions because of multiple overlapping crises. Multilateralism is essential for addressing ongoing conflicts, climate change, and the tragedy of the commons. The rise of extreme nationalism across the world brings about the process of Deglobalisation, where international integration, interdependence, and interconnectedness have diminished between countries.

Almost all the continents are currently involved in conflicts, from Africa to South America, which brings back the old system of the Balance of Power and exposes the paralysis of bodies like the UN Security Council. The war in Gaza, Syria, and Yemen shows how local disputes and power rivalries feed into a fragmented international order. The new international order, marked by the Bretton Woods institutions and European integration, was designed to gain by uniting economies. Indeed, the Ratio of trade to GDP has climbed from about 20% in 1950 to 60% by 2019 (International Peace Institute & Institute for Economics & Peace, 2024).These institutions........

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