Reforming global watchdogs for a democratic world order


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The existing world order, whose political and economic structures date back to 1945, when India was still a British colony, remains dominated by the West. The non-Western world seeks a more democratic and equitable new world order that adequately reflects contemporary realities.To revive multilateralism, the UN needs urgent reform, especially the Security Council, which has become dysfunctional because of great power rivalries and the veto provision emanating from the World War II and the Cold War era. The World Bank and the International Monetary Fund as vehicles for imposing the Washington Consensus globally also need restructuring. The prospects of reform,...