India, Aug. 30 -- The reform process will require compromise, adaptability, persistence, and sustained political will. It would be unrealistic to expect a rapid or comprehensive overhaul.

Meaningful multilateral institution reform is urgently needed, as they are hopelessly bureaucratic, bloated, sclerotic, and politicized. The necessary change is so profound in scope that the reform process will take a decade or more to achieve, once implemented. While major changes to global governance systems are possible, or perhaps even likely over the long-term, they will probably come in the form of incremental adjustments that balance the interests of powerful nations with those of emerging and developing economies.

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