The article argues that the concept of 'global south' is becoming increasingly outdated and potentially harmful as the global economy fragments. It suggests that relying on this grouping for economic and geopolitical strategy is unrealistic and that individual countries need to adapt to a more volatile and divided world.
The writer is president of Queens’ College, Cambridge, and an adviser to Allianz and Gramercy Over my career, I have witnessed quite an evolution in how economists, market participants and policymakers have tried to group those countries that are not classified as “advanced economies”. What started decades ago as references to the “third world” and “less developed” countries evolved into “developing” and “emerging” economies.
Some see it as a unifying tool to pursue common objectives, and an umbrella for groupings such as Brics. But the ability to turbocharge domestic development efforts through closer global economic and financial integration is undermined by the weaponisation of trade and investment flows and less respect for the rule of law.
International Relations GLOBAL ECONOMY FRAGMENTATION GLOBAL SOUTH DEVELOPMENT MULTILATERALISM
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