This is an important question. The world is more interconnected than ever before. Therefore, we need more laws that govern nations. The sheer amount of interaction makes this all the more important. The UN is able to do a certain amount, but more is definitely needed. The website that you put on your question talks about important issues, such as the state of Iraq and the price of oil. These points do have international ramifications. And these issues are bigger than any one nation. So for these reasons, we will need to have international law and global policies that help everyone.
With that said, there will be great difficulties, but we should still attempt to work together for world harmony. One last point, this global effort may be the only way we get out of this economic mess.