Role Change of Developed Countries and Emerging Economic Entities in Global Governance

Chaofan Chen and Yun Wang

International Journal of Social Science Studies, 2015, vol. 3, issue 6, 114-120

Abstract: With rapid development of globalization, numerous global problems appear, and global governance thus emerges. For a long time, the elite club G8 Group which consists of developed countries monopolizes and leads global governance, while vast developing countries are at the edge of global governance stage. However, due to increasingly complex and severe global problems, defects of G8 mechanism, low execution efficiency and legality problem, governance ability of G8 declines continuously. As emerging economic entities rise, G20 gradually replaces G8 and becomes a main mode of global governance. The role that emerging economic entities play stands out increasingly. In addition, participation in global governance by emerging economic entities intensively reflects interests and appeals of developing countries. In the future, emerging economic entities will become important force in politic and economic fields in the world.

Keywords: global governance; G8; emerging economic entities; role change (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:rfa:journl:v:3:y:2015:i:5:p:114-120

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