Page 6 - Echoes of the Global South V2

Abstract

Echoes of the Global This paper explores the evolving geoeconomic landscape of the Global
South, which is becoming increasingly central to global power dynamics.
South: Geoeconomic The intersection of economic strategies and geopolitical interests of
Power Shifts for a countries in the Global South has led them to leverage geoeconomic tools
New Global Order to advance national and regional objectives in an increasingly multipolar
world. Moving away from traditional geoeconomics, understanding the
Global South's economic diversity and strategic behaviour is necessary
Debosmita Sarkar
to illustrate how emerging powers in this region are utilising infrastructure
diplomacy, strategic investments, and trade networks to enhance their
geopolitical influence worldwide. This paper also deep dives into the
challenges posed by debt diplomacy, where financial dependencies
threaten economic sovereignty and stability. Moreover, while regional
cooperation through minilateral or regional forums shows promise,
structural challenges such as inequality and institutional weaknesses
have hindered collective action within the Global South. Therefore, the
engagement of Western powers in the Global South and the competitive
nature of their geoeconomic strategies continue to bear implications for
regional development. A balanced approach to geoeconomic strategy that
prioritises sustainable development and economic growth and integrates
environmental sustainability and social inclusion is critical to navigating the
complex trade-offs between the Global South’s geoeconomic ambitions
and long-term development goals.

6 ECHOES OF THE GLOBAL SOUTH