As the world heads towards a neo-hegemonic phase dominated by China and the USA, it becomes an imperative for us to understand and analyse the future of multilateralism. In the contemporary times, the prominent multilateral institutions in the world are gradually losing their significance and relevance, like the United Nations. Inaction by the international institutions, growing discontent for international liberal order, lack of faith in dispute resolution mechanisms of international institutions and the dwindling relativism of International morality are some of the reasons for the decline in the culture of multilateralism in the world. A discussion in the international sphere, especially amongst the European and American powers is taking place with regards to the future that lies in the multilateral institutions. This is happening because of a reversal trend of multilateralism. Due to several infringements and pressure points emerging between Russia, European Union, China and...