Global competition and economic development: key governance issues

Today, multilateral institutions and governments of industrial countries seem to agree on the need to reorient macroeconomic and structural policies in order to achieve a more balanced growth of the global economy. At the same time, developing countries and civil society organizations have raised questions about the effectiveness of the current multilateral system. As well, new social and political concerns are reshaping our views about globalization processes. This paper looks at the ongoing process of global economic integration and demonstrates that new forces are reshaping the economies of the world and raising challenging questions about ethics, governance and security that will require corporations to respond with new strategies.