Contested global order(s): Rising powers and the re-legitimation of global constitutionalization

摘要

The global financial crisis, sometimes even referred to as a crisis of liberal-style capitalism, functions as a critical juncture that has triggered a critical reassessment of the global system and its normative underpinnings. To shed more light on the changing constituent power of global constitutionalization, this article starts with some general reflections on the role of regional and network actors in global affairs. It then continues with a short discussion of the difficulties encountered during analyzing the BRICS as a unified network actor. In order to clarify whether recent critical junctures and moments of contestation are contributing to a higher global constitutional quality, this article then continues by analyzing the sector of global financial governance. It argues that moments of contestation do not automatically result in an overthrow of the existing global order but might facilitate sectoral adjustments and partial reforms of select sub-systems. The establishment of inter-regional quasi constitutional arrangements with regard to global finance adds to the fragmentation of global constitutionalization-but does so far not result in a substitution of the organizational structures and normative principles established after 1945.