ABSTRACT

This chapter explains the World Economic Forum is one the most exclusive and elite organizations of all non-institutional elements of the global order, second only to the Bilderberg Group meetings. Global multilateral institutions were initiated by the Bretton Woods Conference to establish, promote, and sustain a post-war global order. The formation and functioning of the global marketplace has created the need for a new global order and a new global business order, particularly tailored to both the twenty-first-century global marketplace and the global community. The emergence of bottom-of-the-pyramid (BOP) strategies is trigger for the development of a global business order that will make huge potential market more conducive to international business and protect individuals from exploitation as a result of BOP-oriented strategies. Regional banks and other financial, multilateral, credit, and microcredit institutions act as important mechanisms for the prevention of inter-regional crises and conflicts.