Global governance institutions, from the International...

Global governance institutions, from the International Monetary Fund to the World Trade Organization, are little loved. They are often perceived as bastions of sclerotic mediocrity at best and outright corruption at worst. In the wake of the 2008 financial crash, Daniel W. Drezner, like so many others, observed the smoking ruins of the global economy and wondered the extent to which global governance institutions have affected the post-recession, international system. In The System Worked, Drezner contends that despite the massive scale and reverberations of this latest crisis (larger, as he argues, than those that precipitated the Great Depression), the global economy has bounced back remarkably well. Examining the major resuscitation†¦show more content†¦Conceptually, Denzer appears to conflate the phases of violence, discrediting the belief that violence transpires through stages. In a Denzerian world, the international system is bifurcated between violence and nonviolence. In his assessment of financial resilience through public sentiments, Denzer’s overinvestment in evidence that measures peace through actual violence versus potential violence discredits various disputes that have escalated diplomatically, but have yet to turn violent. Denzer supposes that all liberalizing change must involve varying degrees of violence, ipso facto breaching a threshold of peace. Denzer profoundly overlooks the generally peaceful regime change s in Egypt and Tunisia, which, like so many others, were predominantly led by civil disobedience, civil resistance, and online activism, rarely intensifying into violent demonstrations. Denzer’s assessment also misses cold or still conflicts, whose underlying causes and historic underpinnings have surfaced amid the ever-competitive, protectionist nature following Great Recession. Take for example China and Japan’s diplomatic clash over the contested Senkaku Islands. For four decades, Chinese and Japanese grievances have been reshaped in light of new regional expectations and financial conditions. In Japan’s case, theShow MoreRelatedThe World Trade Organization Essay1690 Words   |  7 PagesThe key multilateral economic institutions provide financial support though grants and loans as a way to enable economic and social development to occur in developing countries. The three main institutions i will be talking about include the World Bank, International Monetar y Fund and the World Trade Organisation. These organisations provide loans, grants and practical assistance to governments, in addition to loaning money to assist private businesses within developing countries. They also playRead More Role of IMF and World Bank Essay example1433 Words   |  6 Pages Introduction The world’s major international financial institutions represent paradoxical ideals in their quest to satisfy the needs of both developed and developing nations. 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