Nepal, Nov. 4 -- The global order is crumbling rapidly. It appears nowhere near the Schumpeterian idea of creative destruction; Jacques Derrida's deconstruction theory, therefore, barely posits the optimism of legendary phoenix-like revival. The global playground of powers is now without a custodian or a referee to stop the ratchet. It is almost axiomatic that the global order is critical to global governance, which is inevitable for global peace and prosperity. In this increasingly interconnected world, societal and national orders are also largely contingent on the global order and the outcome of the geopolitics of the governance, whether good or bad.

The imperative of global governance was desperately realised in the 1940s after the t...