International Scientific Conference Squaring the Circle : the New Global Dynamics (2026) [pp. 125-134]
AUTHOR(S) / AUTOR(I): Dragan Trailović 
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DOI: https://doi.org/10.46793/7067.3731.125T
ABSTRACT / SAŽETAK:
The post–Cold War international order, shaped around the institutionalized dominance of Western-led multilateral frameworks, is facing increasingly pronounced structural pressures due to the rise of new powers. The contemporary international order is undergoing a crisis of global governance, which stems from simultaneous structural changes in the distribution of power but also from the weakening of common rules and norms. Increasingly complex global challenges, combined with the limited capacity of existing institutions to respond effectively, have led to a decline in trust in mechanisms of international cooperation. This crisis became particularly visible after the 2008 financial crisis, as well as in the context of contemporary geopolitical conflicts.