Contours of globalization and global governance: Old wine in new bottle

An exploration of global governance necessarily requires an extensive understanding of worldviews underlying outlooks expressed with respect to the nature and role of global governance. As processes of globalization have accelerated in recent decades, there have been widespread efforts to develop appropriate forms of governance to deal effectively with emerging worldwide challenges. The conceptions of “globalization” and “global governance” are progressively being used as a means to describe a series of operational changes in international policymaking. Yet, there is still an on-going debate regarding the meaning of globalization, its contours and the ways in which it impacts on the state, governance, and world order. The authors in this paper have tried to delve into various issues which are of prime importance in today's neo-globalized policy making ideology. Some of them are: global healthcare standards, social development, economic changeovers, trade and development etc. A grander willingness can be seen, which questions some common assumptions about the global economy and the role of governance. In this imperative sense, this paper analyses the consequences for public policymaking. It also considers whether the earlier predominance of deregulated, laissez-faire economic policy-making has been superseded by a greater emphasis on coordinated international economic governance.