8501. Asia's role in twenty-first-century global economic governance
- Author:
- Srinivasa Madhur
- Publication Date:
- 07-2012
- Content Type:
- Journal Article
- Institution:
- Chatham House
- Abstract:
- The basic foundations of today's framework for global economic governance were laid in the years immediately after the Second World War, with the establishment of the International Monetary Fund (IMF), the International Bank for Reconstruction and Development (IBRD)—later the World Bank (WB)—and the General Agreement on Tariffs and Trade (GATT), the precursor to today's World Trade Organization (WTO). In those postwar years, much of Asia was in dire poverty and Asia's share in the world economy had fallen to its lowest level for centuries. Reflecting the balance of economic power of the time, Asian countries did not play a significant role in either designing the institutional architecture or setting the agenda for global economic governance.
- Political Geography:
- Asia