In international relations theory, the term "new world order" has been used to refer to a new period of history evidencing a dramatic change in world political thought and the balance of power. Despite various interpretations of this term, it is primarily associated with the notion of global governance only in the sense of new collective efforts to identify, understand, or address worldwide problems that go beyond the capacity of individual states to solve.

The first Western usages of the term surrounded Woodrow Wilson's Fourteen Points and call for a League of Nations following the devastation of World War I. The phrase was used sparingly at the end of World War II when describing the plans for the United Nations and Bretton Woods system, in part because of the negative association to the failed League of Nations the phrase would have brought. However, many commentators have applied the term retroactively to the order put in place by the WWII victors as a "new world order."

The most widely discussed application of the phrase of recent times came at the end of the Cold War. Presidents Mikhail Gorbachev and George H.W. Bush used the term to try to define the nature of the post Cold War era, and the spirit of great power cooperation that they hoped might materialize. Gorbachev's initial formulation was wide ranging and idealistic, but his ability to press for it was severely limited by the internal crisis of the Soviet system. Bush's vision was, in comparison, much more circumscribed and realistic, perhaps even instrumental at times, and closely linked to the Gulf War.