THE CURRENT STATE AND PROSPECTS OF GLOBAL GOVERNANCE

Abstract

Global governance consists of a set of institutions, procedures and
networks that jointly influence collective decision making (agreements,
regulations, specific choices) necessary to tackle global challenges. The need to
manage problems of global nature – to govern globally – is generated by
globalization processes. Globalization gradually but irreversibly undermines the
once-exclusive position of the nation state, which (voluntarily or involuntarily)
surrenders a substantial part of its informal as well as formal decision-making
authority to superior international or supranational structures. Regional political
and economic organizations, but also non-governmental organizations, the media
and supranational economic corporations are thus gaining more influence in the
international arena.
The study focuses on analyzing the position of individual actors in the
global governance process. It reaches the conclusion that, despite being so
numerous and diverse, the above-mentioned actors are unable to respond to the
host of new political, economic and security challenges and threats generated by
today’s dynamically changing international environment. The resulting “institutional
vacuum” is made even more serious by the crisis of global legitimacy and
influence of the UN – which, however, cannot be replaced by any other platform of
the G-8, G-20 type. The study highlights the role of the European Union which,
through its political and economic influence, puts into operation an effective
system of multilateral international cooperation to solve key global problems.