The article explores some key problems and contradictions of globalization raised by a prominent political scientist and historian Victor Kuvaldin in his new book The Global World. Politics. Economics. Social Relations. The main attention is devoted to globalization’s “democratic deficit” and prospects of reforming the present world order to efficiently improve global governance. The contemporary neo-liberal globalization project sponsored by the West is facing serious challenges both at home and vis-a-vis other non-Western power centers. In order for globalization to successfully proceed without major upheavals in their respective countries, the Western elites have to make it more transparent and sustainable for their own populations and more inclusive for the rising new powers.