What does the global governance deficit mean?

Global governance systems, rules and capabilities cannot effectively cope with global challenges. Global governance is to solve global conflicts, ecology, human rights, immigration, smuggling, infectious diseases and other issues through binding international laws and regulations, thus maintaining the normal international political and economic order. Financial deficit is often used, which means losing money. The global governance deficit means that the global governance system, rules and capabilities cannot effectively cope with global challenges, leading to disorder at the global level.