Thursday, December 11, 2008
Global Transformation - A practicle requirement
That right now Global governance is not an theoretical and academic debate . Infact , it is the most practical solutions on the range of the global problems we are facing right now . As, I have mentioned that the financial regulatory framework we had based on the bretten wood and the institution build on that base are already facing a crisis which has taken epidemic proportion . You need a new system of regulation which is well understood and contemplated on the recent G-20 summit . The World is waiting for Obama to take over in 21st Jan, that the necessary structural requirement of a new regulatory framework could be build. I had couple of opportunities to consult this multilateral organization and I have felt that the changes which have taken place in the global arena is not well reflected on their institutional structure . So we right now have a practical need of building new forms of Global financial institution and Governance . Human unity is no longer a question of academic debate , it is a practical requirement to settle a number of issues we have right now in hand.