The New Global Economic Order

As anti-globalization reshapes the world, the divide between East and West, developed and developing countries, and North and South, deepens, creating new challenges for economic policy and global governance. This book provides a nuanced and balanced analysis of economic transformation over the past century, exploring critical themes such as structural change, resource mobilization, and the future of global growth. Featuring insights from leading economists, this volume offers expert commentary on economic transformation, development strategies, and the evolving global order. It further examines into pressing governance questions surrounding AI, green technology, and the financing of health crises, future pandemics, and energy transitions. A vital resource for economists, policymakers, and researchers, this book provides strategic guidance on navigating global shifts and mobilizing resources to drive sustainable development in an emerging new global economic order. The Open Access version of this book, available at http://www.taylorfrancis.com, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives (CC BY-NC-ND) 4.0 license.

Lili Yan Ing is Lead Advisor (Southeast Asia Region) at Economic Research Institute for ASEAN and East Asia. She also serves the Secretary General of the International Economic Association. Dr Ing was appointed as Lead Advisor to the Minister of Trade of Indonesia from 2017 to 2019 and Senior Advisor at the Executive Office of the President of Indonesia from 2015 to 2017. Dani Rodrik is Ford Foundation Professor of International Political Economy at Harvard's John F. Kennedy School of Government. He is co-director of the Reimagining the Economy Program at the Kennedy School and of the Economics for Inclusive Prosperity network. He was President of the International Economic Association during 2021-2023.

Acknowledgments List of Figures List of Tables List of Contributors 1 Introduction Lili Yan Ing and Dani Rodrik 2 The Global Economic Order: A Brief History Kevin Hjortshøj O'Rourke 3 Rethinking Global Governance: Cooperation in a World of Power Joseph E. Stiglitz and Dani Rodrik 4 Roles of Bilateral, Regional, and Plurilateral Cooperation Shujiro Urata 5 Correlated Trade and Geopolitics Driving a Fractured World Order Danny Quah 6 Economic Transformation and the New Economic Order Lili Yan Ing and Justin Yifu Lin 7 A New Growth Strategy for Developing Nations Dani Rodrik and Joseph E. Stiglitz 8 The Need for Multipolar Artificial Intelligence Governance Daron Acemoglu 9 The Green Industrial Revolution: Consequences and Policies Alessio Terzi 10 International Financial and Tax Reforms José Antonio Ocampo 11 Global Resource Mobilisation: Health and Economic Recovery Jayati Ghosh 12 The New Economic Order: Do Market Mechanisms Deliver Better Growth? Vera Songwe