The Challenges And Roles Of Global Governance

lobal Governance Global Governance is defined as a movement towards political integration of transnational actors aiming to solve problems that affect more than one state or region. With this we ask who are the key players, where does this power reside and what problems come with global governance. Transnational actors such as non-state actors, Non Governmental Organizations, private actors, International Organizations and so on are some of the most influential in terms of development as there is no such thing as a ’Global Government.’ One could say they take the lead role on certain issues. There are many issues in which global governance can cover; laws, regulations, customs, ethical standards and norms such as poverty and inequality or …show more content…
If they cannot export their goods due to lack of production and demand, they will not have any sort of financial stability coming in to the country. It is most important for a country to insert itself into the global market. It is also important for states to work with markets or private sectors to increase development. For example, LDCs such as countries within Africa work with institutions such as the Bill and Melinda Gates Foundation. Due to their work, the number of people in poverty has decreased by half. The primary focuses of the foundation are, globally, to enhance healthcare and reduce extreme poverty by helping citizens invest in their own state through agriculture. It is important to note that private sector organizations such as the Bill and Melinda Gates foundation do not only benefit LDCs, but developed countries as well. Development in areas such as infrastructure and education can benefit from such relationships between the state and the market. Although the economy benefits as well, economic growth in developing countries occur from education, agriculture and infrastructure. If the market and state can work together to increase infrastructure and education, their financial sector will also benefit as …show more content…
By proper education, new technological innovations can be created to increase the number of exports from a country. Trading agricultural-based exports for technological based imports can also help development, trade and finance. The Bill and Melinda Gates Foundation also focus on the development of financial services for the poor. According to the World Bank’s Financial Inclusion Database, many individuals in LDCs do not have an account at a financial institution and women are excluded from the formal financial system. Therefore, the state could work with private banks in order to develop banking systems for the majority of individuals who do not have access to an account. It is important for measures to be taken with the private and public sector to work towards creating gender equality. Development and finance can also develop if women and men are treated equally and receive equal opportunities to contribute to their country. Through increased globalization, many countries have benefitted financially. Since states have become so interconnected, it is easier for states and markets to work together to create better jobs and other means to assist the financial situations of countries worldwide. The Grameen Bank is another example of a private organization that focuses on development of states. Founded in Bangladesh, the bank offers people the opportunity to take initiatives in businesses or agriculture, which provides earnings and will