The end of the cold war and the terrorist attacks of 9/11 have brought about profound changes in international politics. A new system of global governance -one that is better suited for the new political realities -is desperately needed. Global governance is defined here as a structure for consultation and cooperation among states to maintain global order, to contain disorder, to promote global prosperity through shared management of an open world economy, and to address the difficult issues of global equity, rights, and justice. This Council for Asia-Europe Cooperation (CAEC) book attempts to redefine the roles of Asia and Europe in a changed world. The authors analyze the ways cooperation could enhance global governance -through future multilateralism and international institutions, international economic and financial institutions, trade and development, and new security challenges.