Page 8 - Echoes of the Global South V2

1 Introduction

The Global South, a term historically rooted in the geopolitical divisions of the Cold War, has evolved to represent a
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diverse group of countries primarily located in Africa, Asia, the Pacific Islands, Latin America, and the Caribbean. Despite
their geographic and cultural differences, these countries share common historical experiences, including colonialism,
economic exploitation, and the perpetuation and exacerbation of underdevelopment. In contemporary international
relations, the Global South symbolises the collective aspirations of these nations to achieve economic growth, political
sovereignty, and sustainable development. The Global South’s emergence as a critical actor in international affairs is
closely linked to its growing economic weight. These countries account for over 40 percent of the world’s Gross Domestic
Product (GDP), 23 percent of global merchandise trade and over 65 percent of inward foreign direct investments (FDI),
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with major economies like China, India, and Brazil driving this growth. The Global South is also home to a large
majority of the world’s population and is projected to experience significant demographic expansion in the coming
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decades. These factors position the Global South as a vital market and a strategic player in global economic and
geopolitical considerations.

Figure 1: Demography and Income Levels in the Global South (1960 to 2020)

Source: Han et. al (2023) 5

Over the past few decades, the Global South has increasingly asserted itself globally. This assertion is evident in the
growing influence of countries like China, India, Brazil, and South Africa in international institutions such as the G20
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and the BRICS. In this context, geoeconomics—where economic tools are used to achieve geopolitical objectives—
has become increasingly relevant for understanding the shifting power dynamics in the Global South. One of the
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most significant trends in recent years is the increasing use of infrastructure diplomacy by major Global South powers,
particularly China. Through initiatives like the Belt and Road Initiative (BRI), China has expanded its influence across Asia,
Africa, and Latin America by financing and constructing infrastructure projects that enhance connectivity and economic
integration. This approach has been met with both opportunities and challenges as recipient countries weigh the benefits
of improved infrastructure against the risks of increased debt and dependency on China.

1. Jorge Heine, “The Global South is on the rise – but what exactly is the Global South?”, The Conversation, July 3, 2023, https://theconversation.com/the-
global-south-is-on-the-rise-but-what-exactly-is-the-global-south-207959#:~:text=The%20Global%20South%20refers%20to%20various%20countries%20ar-
ound,Hemisphere%2C%20largely%20in%20Africa%2C%20Asia%20and%20Latin%20America.
2. “How to locate the global south”, The Economist, April 12, 2024, https://www.economist.com/leaders/2024/04/12/how-to-locate-the-global-south
3. UNCTAD, “Rise, retreat and repositioning: Lessons from the global South”, 2024 Trade and Development Report, United Nations, 2024, https://unctad.
org/system/files/official-document/tdr2024ch4_en.pdf#:~:text=South%E2%80%93South%20merchandise%20trade%20accounts%20for%20around%20
23%25%20of,today%20runs%20between%20China%20and%20the%20United%20States.
4. Kishore Mahbubani, “Measuring the power of the Global South”, Chatham House, March 21, 2024, https://www.chathamhouse.org/publications/the-world-
today/2024-02/measuring-power-global-south
5. Zhuang Han, Claude Mbarga, Michel Tenikue and Sarah Giroux, “Demographic Dividends across the Global South: A Comparison of Africa, Asia, and Latin
America (1970–2020)” in Population and Development in the 21st Century - Between the Anthropocene and Anthropocentrism, IntechOpen, December 7,
2023, http://dx.doi.org/10.5772/intechopen.1003675.

8 ECHOES OF THE GLOBAL SOUTH