The Failure of the Current Multilateral System

The world is grappling with unprecedented crisis—climate change, pandemics, natural disasters, genocides, wars, and skyrocketing inequality. The international response, led by the United Nations and its multilateral system, has failed to offer real solutions. Instead, global governance is dominated by corporate interests, perpetuating a system that overlooks the needs of the majority, particularly in the Global South. Big Tech-led models of development have only deepened an already neocolonial and unsustainable geoeconomic order. The upcoming Summit of the Future risks becoming yet another exercise in maintaining the status quo; legitimising an economy for billionaires. What the world needs is a truly democratic global government—one that is inclusive, accountable, and able to address the urgent challenges we face.

Who gets to define the future?

Global governance is mired in escalating geopolitical confrontations between Western powers (the US, EU, and allies) and the rising influence of China and Russia. Meanwhile, transnational corporations wield disproportionate control over policy decisions, prioritizing profits at the expense of people and the planet. This system entrenches inequality and environmental destruction, offering no real solutions to the world’s most urgent crises. The dominant trade and intellectual property regimes have deepened the global innovation divide, concentrating the benefits of technological progress—particularly in data and AI—within a few U.S. and Chinese firms. As a result, much of the world is relegated to exporting raw materials while importing digital products and services, further entrenching dependency in global digital value chains.

The UN, once a beacon of hope for international cooperation, is now paralyzed by these dynamics. Democratic participation within the multilateral system has eroded, with decisions concentrated in the hands of a few powerful countries and corporate stakeholders. The voices of the Global South are marginalized and ignored.

In the Global South, there is growing frustration with the dominance of developed countries and transnational corporations in global decision-making. These entities obstruct progress on critical economic, social, and environmental issues, leaving the majority of the world to bear the brunt of the crises while their voices are sidelined. The policies emanating from the current system have deepened inequality and failed to address the root causes of global challenges.

There is no doubt, this failure has fueled the rise of far-right and fascist movements worldwide, which capitalize on the disillusionment of populations left behind by global governance. The surge of ethno-nationalism, denial of science, and normalization of hate speech in algorithmic public agoras are all symptoms of a broken system that prioritizes corporate interests over the well-being of people.

A New Global Governance Structure

The Summit of the Future is unlikely to deliver the radical change the world needs. Rather than addressing the root causes of the crises, it is poised to offer vague commitments that maintain the current neoliberal system. What is needed is a new global governance structure—one that is democratic, accountable, and responsive to the needs of all people, not just the privileged few.

We are calling for:

• Equity Among Nations: We must reject the power imbalances entrenched in institutions like the UN Security Council, where a handful of countries hold veto power, and in financial institutions like the IMF and World Bank, where influence is tied to wealth. Exclusive forums like the G7 and G20 must be replaced by truly inclusive spaces where all nations have an equal voice.
• Prioritization of Social Movements and Civil Society: Governments and international institutions need to prioritize the voices and needs of people over corporations and wealthy elites. National governments, acting as legitimate representatives of their populations, must take the lead in global decision-making, with meaningful input from civil society and social movements. corporate and billionaire interests must be excluded from these spaces. The “corporate capture” of global institutions under the guise of “multi-stakeholderism” has led to a system that serves the interests of the few at the expense of the many.
• Abolishing of Veto Power: A democratic global government would ensure that all countries are treated equally, with no nation or group of nations wielding disproportionate power. The veto power of 5 countries at the UN Security Council must be abolished; and financial institutions must be restructured so that decision-making is not tied to wealth. Only through such reforms can global governance become inclusive, transparent, and capable of addressing the challenges we face.
• Reform of Trade, IP, and Tax Regimes: Current trade and intellectual property regimes stifle digital and data development in the Global South. We urgently need a fair use doctrine for trade secrets to enable small businesses in developing countries to access critical data, ensure accountability in AI innovation, and support public licensing of foundational AI technologies. International tax systems must be reformed to ensure fair distribution of wealth. Tomorrow’s infrastructure should be built through public investment, not controlled by tech giants.
• Equitable and Accountable Data Governance: The call for unrestricted data flow across borders benefits dominant players in the global digital economy, not all nations. Similar to free trade, this narrative supports a modern-day scramble for digital dominance. A new global data framework, rooted in human rights and development, is needed. Effective AI governance must hold non-state actors accountable to prevent exploitation and ensure the survival of humanity.

Conclusion

The world does not need another theatrical summit to preserve the current order. We need a bold, transformative vision for global governance that prioritizes people and the planet over corporate profits. A democratic global government is essential if we are to overcome the existential crises facing humanity. It is time for real change—one that ensures dignity, sustainability, and justice for all.

Transnational Institute (TNI), Friends of the Earth International (FoEI), IT for Change.