... expressing their desire to join the grouping. We are witnessing what may be termed the "BRICS Plus moment" in the evolution of the BRICS bloc as the summit's decisions on expansion are likely to impact not only the development trends across the Global South but also across the entire world economy.
One notable merit in China's determination to expand the current BRICS membership is that it reaffirms the principle of openness of the BRICS as a bloc, including its very core. This expansion in ...
The recent trip of Li Shangfu suggests that Beijing and Moscow are consistently moving to a new model of cooperation that might look quite appealing to a broad range of international actors in the Global South
Earlier this week, Chinese Defense Minister Li Shangfu visited Russia on his first trip overseas in this role and predictably got a very warm reception in Moscow. Li had a meeting with Russian President Vladimir Putin. This trip attracted ...
The Global South looks at Norway with a hope to at least push the “un-pause button” of the Council
The resonance of the Russia-Ukraine conflict has sent geopolitical tremors in the Arctic that has, in a way, fractured regional ice. Suspension of the ...
... on the world stage and the increasing support for African economic integration both regionally and globally. In fact, one of the few positive trends in the global economy in recent years has been the greater prominence of regional integration in the Global South of which perhaps the most important has been the AU-led creation of the African Continental Free Trade Area (AfCFTA). The African Union is in the process of accession to the core of the G20 grouping as a full-fledged member and is also a ...
The resolution of the crisis might well trigger long-awaited reforms in the global order, which should imply, among other things, a more prominent role for the Global South in the international system
However, this mission has turned out to be impossible to accomplish. Over the last year, in the Global South, as a rule, countries do not subscribe to the US or the EU anti-Russian sanctions. These countries ...
... sectors and companies has been highlighted on a number of occasions by the
Valdai club
, including in a separate report published in June 2021. The most emphatic of these “platform trends” has been associated with the regional platforms of the Global South that included such projects as the African Continental FTA, the creation of the Regional Comprehensive Economic Partnership (RCEP), expansion in the Shanghai Cooperation Organization (SCO).
Apart from creating new regional blocks, greater ...
... monetary policy pursued by the Federal Reserve and the underestimation of inflationary risks during the monetary stimulus period. Another was the protracted period of trade restrictions and sanctions applied against some of the largest economies of the Global South such as China. As
argued
by political analyst Azhar Azam, “after reshoring and onshoring, friend-shoring is … a de facto and defunct American protectionist approach … launched under the veil of the new symbolism with support of the ...
... and for bringing the African Union as a full-fledged member into G20. There is indeed no reason why the European Union should be the only regional block represented at the G20 forum as a full-fledged member. Inviting the African Union will allow the Global South to have its very own regional voice at G20 alongside the regional grouping of the advanced economies.
Also important was Xi’s statement on the alleviation of the debt burden for the least developed countries—something that needs to be ...
... no reason why it should exercise exclusive representation of all the regional organizations in the global economy. In fact, the African Union attained crucial advances in regional economic integration in the past several years and can represent the Global South as a regional forum in the G20 just like the EU may be the regional representative of the Global North.
In the longer term, the issue of the inclusivity of the G20 grouping could be addressed by the member developing economies that will ...
... the regional development institutions in which BRICS countries are members. Accordingly, regional development banks, regional financing organizations together with NDB can act in concert in advancing sustainable development and connectivity across the Global South.
In sum, the two dimensions of BRICS geography, namely the intra-continental and the inter-continental expanses of the developing world, determine the pathways for future BRICS cooperation. The enormous intra-continental distances for BRICS ...
