Since the financial crisis in 2008, the illusion of “hyperglobalization” has faded, giving way to the “new globalization”, characterized by innovation-driven growth and regionalized global value chains. The current disorder in global governance in essence reflects a structural mismatch between the U.S.-led institutional superstructure and a regionalized tripod economic foundation comprising North America, Europe, and Asia with the U.S., Germany, and China acting as respective regional anchors. Addressing this systemic incongruity requires a reconfiguration of the global governance architecture to align more closely with the evolving dynamics of globalization. This article employs a mixed-methods approach, integrating formal modeling, quantitative and qualitative analysis, to explore what constitutes an optimal governance architecture in the context of “new globalization”. We argue that a dual architecture consisting of global and regional institutions with a tripod regional order is not only empirically feasible but also normatively preferable.

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A Dual Architecture with a Tripod Regional Order for Global Governance in the New Globalization Era

  • Jiandong Ju,
  • Wan Peng,
  • Xinding Yu

摘要

Since the financial crisis in 2008, the illusion of “hyperglobalization” has faded, giving way to the “new globalization”, characterized by innovation-driven growth and regionalized global value chains. The current disorder in global governance in essence reflects a structural mismatch between the U.S.-led institutional superstructure and a regionalized tripod economic foundation comprising North America, Europe, and Asia with the U.S., Germany, and China acting as respective regional anchors. Addressing this systemic incongruity requires a reconfiguration of the global governance architecture to align more closely with the evolving dynamics of globalization. This article employs a mixed-methods approach, integrating formal modeling, quantitative and qualitative analysis, to explore what constitutes an optimal governance architecture in the context of “new globalization”. We argue that a dual architecture consisting of global and regional institutions with a tripod regional order is not only empirically feasible but also normatively preferable.