Chapter TenNew International Structures

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THOSE OF US who have contributed to this volume have all faced variations on a nagging question from journalists, pundits, and government officials as we debate economic globalization around the world. “Isn’t economic globalization, along with the key global institutions that underlie it, inevitable?” That this question persists for institutions that have existed from merely a decade (the World Trade Organization) to a half-century (the World Bank and the IMF) is a tribute to the power of the forces that have backed and benefited from economic globalization during this period.

But as this volume goes to print, the grip of inevitability is loosening. With colossal failures by the Bretton Woods institutions ...

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