From this proposal spring reforms of existing governance institutions including the United Nations 6 , the International Monetary Fund, the World Bank, and the World Trade Organization. Nayyar and Court are sensitive to the needs for differential application of regulatory rules for countries at different levels of development, for the need to make global governance more inclusive (and not just a rich nation's club), to provide a voice for those currently excluded, and to specify the conditions under which countries can opt out or exit from multi-lateral rules. Their reforms include the desirability for articulating the obligations of transnational corporations as well as their rights, including some version of an international regime of antitrust 7 . Like similar global governance proposals, acknowledgement is made of existing institutions that already constitute core arrangements of governance on which this larger program could be built, e.g. UNCTC, UNCTAD, the Organization for Economic Cooperation and Development (OECD), the International Finance Corporation (IFC), and the International Centre for Settlement of Investment Disputes (ICSID).