Towards a New Global Architecture for Orderly and Predictable Migration

Abstract

In an increasingly interconnected and fast-moving world, the preexistence of an agreed-upon framework for negotiation and coordinated action helps nations to harmonize their divergent interests and views and ensure policy coherence for the net benefit of each and all. Though far from perfect and still evolving, such frameworks have helped nations to ensure orderly flows of goods, services, and capital and minimize interstate tensions. In the wake of the recent financial crisis, nations are now striving hard through the Group of 20 to develop a coordinated policy framework to ensure orderliness, transparency, and confidence in the financial sector, including banking, and improve its over-all governance.