We need to rekindle the "spirit of internationalism" seen at Bretton Woods 60 years ago, and also seen at the OECD during the 1960s and 1970s, as that organization did its part to build a liberal economic order and a framework for freer trade.
But it is difficult to build a shared sense of trust and responsibility if key players feel that they don't have an adequate voice. In this respect, it is clear that the IMF needs to give a larger voice to China and some other emerging-market economies, as they become more systemically important.