The big question dominating discussion among political philosophers/theorists working on globalization and global justice issues.... There is a lot of work out there that you can go to, most of the best of it in print rather than online (articles sometimes accessible via JStor, if your institution has a subscription).
Here's a note by John Ikenberry (at TPM Cafe), via Duck of Minerva. There's also some response here. I would at least start to answer along the lines of the legitimacy issue -- see here.
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