The global economic crisis, coming on top of the food, fuel and climate change crises, has exposed the systemic weaknesses that led to the crisis and which the international community must find ways to overcome. These systemic weaknesses derive from the incoherence between the present set of institutions and rules, which were established more than 60 years ago, together with the founding of the United Nations and related institutions, and the much more extensive economic interdependence and complexity induced by decades of globalization. Reshaping global mechanisms and strengthening national capabilities in support of the shared goal of poverty reduction and development offer a feasible path towards overcoming these weaknesses and achieving policy coherence within the global economy.
Source: United Nations
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