Creating a harmonious global society

The state of the world is fraught with unprecendented imbalances and tremendous risks, and our institutions are struggling to keep up with the changing times.

From a lack of progress on international trade and climate change negotiations to challenges involved in meeting energy and food security and the United Nations Millennium Development Goals - we are witnessing a number of failures in international governance. Moreover, the 2008-2009 global financial crisis starkly illustrated the systemic nature of risks, demonstrating how the integration of financial and trade markets quickly transmit turbulence in one economy regionally and internationally.

A major reason for the crisis was the belief that evolved in the exuberant economic climate beforehand, where free markets can self-regulate and the purpose of business is purely to make profit. This belief has shifted the balance of power to the shareholder and the financial community at the expense of other stakeholders.