One world, one future: Jointly building a just and equitable global governance system

By Koh King Kee

Editor's Note: This speech was delivered by Koh King Kee, president of the Centre for New Inclusive Asia, at the 2025 BRICS Seminar on Governance and Cultural Exchanges Forum. It has been edited for publication.

Humanity shares a common future, one shaped by the choices we make, together or separately. To ensure a sustainable, peaceful and just future for all, the global governance system must undergo meaningful reform to reflect both today's realities and tomorrow's challenges.

Current global governance system 

The current global governance system was shaped largely by the United States and its Western allies after World War II. It has provided decades of relative stability and economic growth. However, it no longer fully represents the geopolitical and economic landscape of the 21st century. Its enforcement mechanisms are weak or nonexistent, and it has been unable to effectively prevent wars, regional conflicts, financial crises and terrorism. It has also failed to genuinely cultivate global unity or promote international cooperation to address pressing worldwide challenges such as pandemics and climate change.

The ongoing wars in the Middle East and the seemingly unending Russia-Ukraine conflict are bitter reminders of the ineffectiveness of the current global governance system. The theme of this address, "One world, one future: Jointly building a just and equitable global governance system," is more than just an aspiration — it is a strategic necessity.

The international institutions established after World War II — namely the United Nations, the World Bank, the International Monetary Fund (IMF) and the World Trade Organization (WTO) — as well as the rules and norms they created, form the foundation of today's global governance system.

It is important to note that justice in global governance goes beyond representation. It demands the fair distribution of opportunities, resources and responsibilities. This means bridging the global digital divide, ensuring equitable access to vaccines and health care, and addressing the climate crisis according to the principle of common but differentiated responsibilities.

After the end of the Cold War and the dissolution of the Soviet Union in 1991, the U.S. emerged as the world's sole superpower. In 1992, the U.S. Department of Defense drafted the Defense Planning Guidance for 1994-1999, outlining a strategy to maintain America's global preeminence by preventing the emergence or reemergence of any rival power capable of challenging U.S. dominance. Since then, successive administrations have pursued policies aimed at preserving U.S. global leadership, allowing it to exert significant influence over the international order and major global governance institutions. 

Global South's rise reshapes power dynamics

The rise of China and other Global South nations has significantly reshaped global power dynamics, exposing the shortcomings of a global governance system that is not equipped to address the geopolitical and economic realities of the 21st century.

Multilateralism, long seen as the foundation of international cooperation, is now under increasing strain. One example is President Donald Trump's imposition of "reciprocal tariffs" under the "Make America Great Again" (MAGA) agenda, which prioritizes unilateral national interests over collective global concerns. As a result, developing countries are likely to suffer under these tariffs and bear the brunt of failures in global governance.

Nevertheless, the Global South and regional powers are playing an increasingly important role in global affairs. Developing countries — especially large emerging economies such as China, India, Indonesia, Brazil and South Africa — have become key drivers of global economic growth. While the G7 still leads in nominal GDP, mainly due to the size of the U.S. economy, the BRICS nations have already surpassed the G7 when measured by purchasing power parity.

In fact, for much of the 21st century, developing countries have contributed more to global economic growth than advanced economies. Yet, they are still underrepresented in major international institutions such as the World Bank, the IMF and the WTO.

Addressing inequalities in the global governance system

These inequalities must be addressed. A fair and equitable global governance system should ensure that all countries — regardless of their size or level of development — have an equal voice in the decision-making processes that shape our shared future.

We are living in a turbulent world with unprecedented changes and facing a range of complex global issues, including climate change, terrorism, and food security. These common challenges can be addressed only through a comprehensive global approach. In today's hyperconnected and interdependent world, no nation can tackle pandemics, climate disasters or cybersecurity threats alone.

The challenges facing humanity are global in scope and interconnected. A Western-centric approach to global governance is no longer sustainable. Building a just and equitable global governance system is not simply a choice, but a necessity.

Humanity as a community of shared future

In March 2013, President Xi Jinping first proposed the vision of building a global community of shared future during a speech delivered at the Moscow State Institute of International Relations in Russia. He said: "Mankind, by living in the same global village within the same time and space where history and reality meet, have increasingly emerged as a community of common destiny in which everyone has in himself a little bit of others."

President Xi emphasized that all people share a common future as inhabitants of Earth. He called for all countries to unite and work together to address the urgent challenges we collectively face. Since then, the idea of a global community of shared future has become central to China's approach to global governance. It was written into the preamble of the Constitution of the People's Republic of China in 2018 and has been endorsed by the U.N. in multiple resolutions.

A new global governance system

The international challenges we face today demand a new approach to global governance. Nations can no longer focus only on their own self-interests. This new approach must recognize the growing influence of the Global South, the ongoing effects of globalization and the fast pace of technological change.

Globalization and digital connectivity have blurred geographic boundaries as global economic ties become deeper and more complex. In this hyperconnected and interdependent world, no country stands alone. A major incident in one corner of the world can send shockwaves across continents, with effects felt within days, if not hours.

The existing global governance system, long shaped and dominated by the West, still carries deep-seated inequities and historical biases. In an era marked by growing global challenges — including regional conflicts, terrorism, economic stagnation, climate change, protectionism, and rising anti-globalization sentiments — these weaknesses have become even more evident.

The concept of a global community of shared future offers a timely and visionary framework for collective action and reform.

This idea presents a new approach to global governance based on mutual respect, inclusiveness and shared responsibility among nations. It calls for a fair, equitable and just world order, rooted in openness, mutual respect and harmony with nature.

The concept of a community of shared future presents a forward-looking framework for global governance reform. It offers a constructive path to reshape the current global governance system into one that is more balanced, sustainable and representative.

Ultimately, it envisions a system that reflects the shared aspirations and interests of all humanity — "one world, one future."