PERSPECTIVE| FES NEW YORK Glo ba l an d Regiona l O rder International Institutional Architecture Could it be saved? Héctor Rogelio Torres July 2020 The»war« against Covid-19 will spare our physical infra­structure, but it is seriously straining the international institutions that underpin economic interdependence As increased geopolitical tensions polarize the world, national security concerns reshape the international order to one in which deals are replacing multilaterally agreed rules. The World Trade Organization and the International Mone­tary Fund are two main pillars of the architecture that has al­lowed the world to prosper in relative peace; preserving their relevance will require serious reforms.