This research on the international multilateral system has its raison-de-etre in the problems of lack of effective global governance manifested in areas such as global politics, security, economy, environment and others. A fundamental focus of the research is on the latest changes in world politics, including state power shifts, power diffusion from state to non-state actors and the implications of the rapid evolution of globalization over the last two decades, with its proliferating challenges and opportunities. In addition, the research examines reform efforts in multilateral institutions and some of the reform proposals suggested in academic circles. The main objective of the research is to provide a holistic analysis of the current state of the multilateral system, the imperatives of reform in the system, its potential future scenarios as well as some suggestions for the future. No doubt, the United Nations (UN) is the core hub of the current system. Hence, the research principally approaches its subject from the perspective of the UN. In particular, the UN General Assembly is the subject of a case study that aims, among others, to highlight its predicament and potential."