The COVID-19 pandemic and the conflict in Ukraine have brought to the surface problems of the modern world that the international community has not seriously addressed. These problems appear to be, on the one hand, the management of global public health and, on the other, relations between states on international trade. These situations are linked to circumstances that have altered the power relations of states over the years, challenging the centrality of the West and the already fragile power of UN institutions. This research analyses the international situation of two UN bodies: the WHO and the WTO, addressing the governance crisis on public health and international trade and trying to understand the causes of the decline in the leadership of their institutions. Adopting a thorough literature review, the findings show how faulty leadership within the UN has led to a significant increase in nationalism among emerging nations, distrust and lack of cooperation. The divergent political visions of members have radically shaken the international balance, triggering a cycle of change in the governance of global health and global trade on a new premise, that of ‘multilevel’ global governance.