Both the war against terrorism and the war in Iraq have spotlighted, and in some ways exacerbated, serious weaknesses in the existing systems for managing global issues. Yet the need for effective global governance has never been greater. In addition to the currently prominent perils posed by terrorism and proliferation, there are a vast array of serious threats to human well-being: environmental degradation, new and resurgent infectious diseases, dire poverty, economic instability. Addressing these effectively requires the cooperative efforts of national governments, intergovernmental organizations, business, and civil society. Can we still hope for such effective cooperation?