Home » Practicing Principles » joins the call for a new “Bretton Woods” agreement to rebalance the digital economy joins the call for a new “Bretton Woods” agreement to rebalance the digital economy

World Leadership Alliance-Club de Madrid, the largest forum of political leaders working to strengthen democratic values, good governance and well-being of citizens around the world, holds its Annual Policy Dialogue under the title “Multilateralism that Delivers” and within the framework of the 75th anniversary of the United Nations.

This event, which brings together 35 former Heads of State of democratic governments and more than 200 participants from government, civil society, academia and the private sector, is discussing strengthening multilateralism and supporting cooperation in the face of new global challenges.

World leaders face a set of challenges whose magnitude and complexity has not been seen since World War II. Back then, the world’s economic challenges were addressed at the Bretton Woods meetings which created our current international financial institutions. Today, with accelerating and increasing geopolitical, societal and environmental tensions, these institutions are having a difficult time keeping up with the rapid pace of change. By reframing the ongoing digitalization of how international transactions are governed, a new means for addressing today’s challenges is emerging which provides an opportunity to be more agile, fair, innovative and sustainable.

To Alex “Sandy” Pentland, MIT, Boston Global Forum expert, Co-founder of and Esko Aho, Prime Minister of Finland (1991-1995) and WLA-CdM Member, “Modernizing and digitizing the governance of national, international, and commercial interactions to become more efficient, transparent, and inclusive needs to be elevated as a global priority. Dozens of efforts are already underway. However, current efforts are mostly piecemeal and incremental. This is therefore a natural topic for inclusion within a new Bretton Woods type of agreement.”

For more information on “Digitalisation; Enabling Multilateralism and Impact” please view the following video:

The full op-ed can also be read and downloaded via here.