Global economic governance
For scholars and practitioners of global economic governance (GEG), the onset of the crisis in 2007–2008 triggered deep cognitive dissonance. This chapter examines the key features of the players, power and paradigms whose interaction shape and reshape GEG over time. As in any form of government, the working of GEG is dependent on the exercise of power in order to generate the 'system of rules' that guide the behaviour of economic actors and stabilize their expectations. The chapter also presents some concepts discussed in this book. The book investigates an important dimension of the World Trade Organization work, namely the promotion of transparency in trade policy. It examines one of the key players in the global trade regime, namely the European Union, as well as the impact of EU preferences and behaviour on the global trade regime. The book evaluates the emergence and evolution of the governance of trade in global food and agriculture.