Perceived Limitations of the Current System
Besides the redefinition of the participants in global governance, WEF identifies two main concerns with the current international system: a loss of legitimacy and a sharp drop in effectiveness. The former deals with perception of impacts of globalization and a fear that without a proper repair to the international system it might no longer be seen as acceptable to the wider international community. The latter deals with the sense that, within the current system, there are insufficient economic or political levers available to manage the complexities of globalization.
Related Ideas: Public governance failures
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