... 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 ...
The platform for a comprehensive FTA across the Global South may be based on the BRICS+ framework
The expanded format of the BRICS+ dialogue conducted by China in June 2022 as well as the rising number of large developing economies expressing willingness to join the BRICS core grouping sets the scene ...
... the standards across regional development banks on the implementation of such projects may enhance the prospects of meeting the ambitious environmental goals in leading developed economies and in advancing the green agenda across the economies of the Global South.
The emergence of new projects with a global reach launched by the world’s leading economies also raises the role of regional development institutions in ensuring greater connectivity among such projects. In particular, the EU’s Global ...
... for the openness of global economy, this process also entails intensifying competition between and polarization of these blocs along the North–South axis. In 2022, this opposition was increasingly noted between BRICS and G7, the leading blocs of the Global South and the Global North. Amid these conditions, it is very important to design mechanisms for interaction and cooperation between platforms representing developed and developing nations—already at the early formative stages of large-scale ...
... global level.
In pursuing the quest for maintaining a balanced and neutral position on the international arena there may be scope for ASEAN to explore the possibilities of greater cooperation with the cooperative arrangements that bring together the Global South and the advanced economies. ASEAN has made significant advances in this direction via building the Regional Comprehensive Economic Partnership (RCEP) together with China, Japan and South Korea. At the same time there remains scope to complement ...
... scenarios did not materialise. However, Brasilia did significantly rethink its priorities, goals and objectives. Unlike his predecessors from the leftist camp (Presidents Lula da Silva and Dilma Rousseff), Bolsonaro was not close to the idea of uniting the Global South under the banner of reshaping the world order. However, more pragmatic, technocratic areas that are objectively beneficial to the country (technological cooperation, the fight against organised crime, digitalisation and the Development Bank) ...
... inclusive, writes Valdai Club Programme Director
Yaroslav Lissovolik
. At the same time, there are also risks and challenges involving this scenario as the domain of “integration of integrations” remains largely unexplored across the terrain of the Global South.
The changing landscape of the global economy in recent years is increasingly characterized by a more active role of developing economies in building their own platforms for economic cooperation. In the process of assembling these platforms ...
... factor in the regional “integration of integrations” model that has particular merit – it is the “BRICS+” multiplier that allows for a significant extension in the outreach undertaken by core BRICS economies with respect to the rest of the Global South.
In terms of scale, the effects of the two formats of BRICS expansion may be mathematically illustrated by the difference between the arithmetic and geometric progression. If the one-by-one expansion in the core of the BRICS grouping represents ...
