Regional Trade Blocs as Supporting Structures in Global Governance
By Yaroslav Lissovolik, Anton Bespalov, and Andrei Bystritskiy
What is missing in the current system of global governance is a global coordination mechanism among the largest regional integration arrangements from both the Global North and the Global South. The G20 is probably the best forum to launch discussions on the creation of such a platform. The set of regional alliances within such a platform could include those regional integration blocs in which the respective G20 members are leading economic powers. The resulting grouping that may be designated as R20 (“Regional 20”) would bring together some of the largest regional trading blocks in the world economy.