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Reviving Multilateralism

In: Aid, Trade and Development

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  • Constantine Michalopoulos

Abstract

Achieving sustainable development requires a vast amount of policy and behavioral changes, in both developed and developing countries. This chapter discusses the nature and scope of the global effort needed to provide financial assistance to developing countries to recoup the ground they lost because of the pandemic and move on to a path that leads to sustainable development. Aid fatigue had set in before the pandemic and aid allocation had been increasingly influenced by donor desires to pursue narrow national and geopolitical objectives rather than global sustainable development. The potential calamities of future pandemics and the threats posed by climate change require countries to submerge narrow national political objectives and develop a collaborative global approach. The last part of the chapter discusses the steps the international community needs to take to revitalize multilateralism so as to enable it to cope with global challenges effectively and equitably.

Suggested Citation

  • Constantine Michalopoulos, 2022. "Reviving Multilateralism," Springer Books, in: Aid, Trade and Development, edition 2, chapter 0, pages 393-418, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-96036-0_14
    DOI: 10.1007/978-3-030-96036-0_14
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