In a speech at the plenary session of Global South Economic Forum, Rajiv Kumar, a prominent economist and advisor to COGGS, delivered a powerful message on the world’s ongoing transformations and the pivotal role the Global South can play in shaping the new world order. Here’s a detailed look at his key arguments and the call to action he extended to the international community at the forum on June 17, 2025.
The World in Historical Flux
While addressing the GSEF, Kumar, the former Vice Chairman of Niti Ayog, Indian government’s finance planning thinktank opened by stressing that the world is currently experiencing an “unprecedented historical transition.” He argued that the magnitude and nature of these changes are unlike anything seen before, presenting both challenges and opportunities, especially for the nations of the Global South.
Six Defining Global Transitions
Drawing from his forthcoming book, “The Everything All At Once: The Six Global Transitions in the World Today,” Kumar outlined the six critical transformations shaping our era:
I. Geopolitical Shift: The previous notion of “the end of history” is now outdated. Instead, Kumar says, “a new history is beginning at the moment,” marked by shifting global power dynamics.
II. Geoeconomic Fragmentation: He challenged the idea that the world is economically flat, explaining that barriers, protectionism, and fragmentation are on the rise.
III. Geophysical Realignment: The locus of prominence is shifting from the Euro-Atlantic world back to the Asia-Pacific – a return to a historical norm prior to Western hegemony.
IV. Technological Revolution: Kumar described today’s technological advances, especially in artificial intelligence, as more dramatic and rapid than any prior industrial or technological revolution. He warned of an imminent “singularity,” where machine intelligence outpaces human intelligence.
V. Climate Change Crisis: He highlighted the urgent threat climate change poses, particularly to the Global South, criticizing northern nations for rhetorical support without adequate action. Kumar warned of a narrow 20-year window to avert irreversible damage.
VI. The Rise of the South: Noting that 85% of the world’s population resides in the South, contributing some 40% of global GDP—and now driving global growth more than advanced economies—Kumar underscored the region’s economic and demographic dynamism.
The Opportunity: Making This the Century of the South
Amidst these transitions, Kumar made a compelling case for the Global South to “work together in solidarity and strategic collaboration.” He further emphasized that the South is not monolithic but contains its own “north” and “south.”
He identified the expanded BRICS grouping (now including countries such as the UAE, Ethiopia, Egypt, Indonesia, among others) as the ideal platform to drive this movement forward. However, he urged BRICS to become more than a “talking shop,” advocating for concrete progress on:
- Climate change mitigation,
- Food security,
- Harnessing artificial intelligence for development,
- Exploring the creation of a new reserve currency.
India and China: Partners in Shaping the South
Economist Rajeev Kumar highlighted a special responsibility for India and China, the two largest civilizational economies. He acknowledged China’s lead, especially in strategic technologies, and proposed that “as a senior partner we look towards China to give us the lead for how to create the South-South cooperation and make it effective, implementable and operational.”
Kumar concluded with a call to devise “the modality for BRICS and, within that, India-China bilateral cooperation to play the role of making the 21st century the century of the South.” He appealed for the opportunity to design and operationalize “a new world order which is rule-based and not hegemonic.”
