How to manage the global economy is the most important international question of our time. The short and trenchant history of organizations that have promoted economic globalization?the World Bank, IMF, WTO and G-7?have quickly shown their manifest failings. Walden Bello discusses something other than marginal policy changes?the world requires a radical shift towards a decentralized, pluralistic system of economic goverance.
This ‘deglobalization’ means the reduction of existing powers. It requires the formation of new institutions that help to devolve the greater part of production, trade and economic decision making, based on each country’s need, at both national and local levels.