🌏 Within the economic framework of the Global South the two key drivers of global growth, namely China and India, could deliver significantly stronger growth impulses for the developing world in case they were to espouse closer economic ties.

In some ways the economic cooperation between the two main economic powers of the developing world could be assessed against the backdrop of the trans-Atlantic cooperation between the US and the EU among the advanced economies. This trans-Atlantic partnership has served as the backbone for growth and innovation among the advanced economies in the preceding decades. In this respect, a closer economic partnership between India and China would redound significantly to development areas such as Eurasian connectivity, the growth in the regional partners of the two countries, greater scope for joint innovation projects and the launching of South-South platforms in the financial sector. 

A common platform for economic cooperation across the Global South opens the possibility for the world economy to lower global imbalances via creating a “no core – no periphery” mode of cooperation, writes Valdai Club Programme Director Yaroslav Lissovolik.

https://valdaiclub.com/a/highlights/the-growth-engines-of-the-global-south/

#Corporations_and_Economy #worldeconomy #GlobalSouth #China #India

@valdai_club — The Valdai Discussion Club

💸🌐 The year 2021 will feature in the economic textbooks as one of the most peculiar in terms of the macroeconomic backdrop observed across the world.

The most striking feature was of course record-high inflation in developed economies, with the US and Germany all posting inflation rates of above 5%.

Another fragility that may reverberate across the global economy in the medium-term is the elevated level of fiscal deficits and the increased debt burden.

Overall, while the emphatic recovery in 2021 from the economic decline of the preceding year is welcome, the macroeconomic fragilities remain sizeable and perhaps no less daunting than in the post-2008 financial crisis period.

Given the prominence of base effects in 2021, the longer term question about the growth trajectory of the global economy is whether the crisis period was in fact used as an opportunity to revamp and adapt the economic system to the new realities of the Covid era, writes Valdai Club Programme Director Yaroslav Lissovolik. 

🔗 The Year 2021: A Series of Macro Records

#Corporations_and_Economy #WorldEconomy #inflation

@valdai_club — The Valdai Discussion Club

⏰ TODAY at 15:00 Moscow Time (GMT+3), a session of the Valdai Discussion Club titled “The New World Economy — Not Global, But Interconnected” will take place as part of the business programme of the St. Petersburg International Economic Forum 2023.

The participants in the Valdai Club session will discuss the following issues:

❓How will the new economic system be built — still unified and interconnected, but not global in the previous sense?
❓What are its opportunities and risks?
❓Which countries and regions will be the main beneficiaries in this situation, and who will suffer losses?

A link to the live broadcast of the session will be posted on all online platforms of the Valdai Club: on the Twitter, Telegram and Dzen.

#SPIEF #valdaiclub #WorldEconomy

@valdai_club

UPD: The livestream is over. The video of the session is available via the same link. Stay tuned!

🎥 LIVE: at 15:00 Moscow Time (GMT+3), we are starting a live broadcast of the Valdai Club session “The New World Economy — Not Global, But Interconnected” at the St. Petersburg International Economic Forum 2023.

https://valdaiclub.com/multimedia/video/valdai-discussion-club-session-at-spief-2023/

#SPIEF #valdaiclub #WorldEconomy

@valdai_club