The shockwaves of the 2007-09 economic crisis exposed both a significant shift in global economic power and a weakness of governance mechanisms to respond and correct. Influence and authority in world affairs is slipping away from traditional poles in the industrialized North, requiring a new power sharing arrangement with the rising economic powers in the global South. The Bellagio workshop will explore the roles of China, India, Brazil and South Africa as emerging centres of regional and global authority, as the international system reshapes itself in the wake of crisis. It will also be the first meeting of an ESRC Rising Powers Network, coordinated by Chatham House and CIGI.
Final drafts of articles for the special issue of International Affairs on “Global Economic Governance in a World of Crisis” (edited by Andrew F. Cooper and Paola Subacchi) will be presented at the workshop. Invited international scholars will provide comment on the papers and will seek to address a number of pressing questions. Has the economic crisis been a catalyst for change? Which world order will emerge from the crisis? How will rules and norms be shaped? Which will be the role of the rising economic powers in the post-crisis economic order? Which will be the role of multilateral international institutions? Publication of the special issue is expected in May 2010.
Financial support for this project has been generously provided by the Rockefeller Foundation (US) and the Economic and Social Research Council (UK).