🌏🌎 The BRICS+ summit and the foreign ministers’ BRICS+ meeting in 2022 brought together developing economies that represented regional blocs such as the African Union, CELAC, SCO, GCC and ASEAN.
This in effect was the widest outreach exercise covering the vast majority of the Global South and representing a platform that could prove instrumental in advancing greater economic openness across the developing world.
The key factor that renders the creation of a South-South FTA feasible and in fact expedient is the high degree of undertrading along the “South-South” axis compared to the potential based on distance and respective country GDP levels (indications of the gravity model). Another factor is the “integration gap” — namely the significantly lower scale and quality of integration in the developing world compared to the advanced economies.
The South-South FTA could serve to bridge this gap and foster “catch-up integration” or “integration convergence” vis-à-vis the developed world, writes Yaroslav Lissovolik, Programme Director of the Valdai Discussion Club.
#Valdai_WorldEconomy #BRICS #GlobalSouth
@valdai_club
This in effect was the widest outreach exercise covering the vast majority of the Global South and representing a platform that could prove instrumental in advancing greater economic openness across the developing world.
The key factor that renders the creation of a South-South FTA feasible and in fact expedient is the high degree of undertrading along the “South-South” axis compared to the potential based on distance and respective country GDP levels (indications of the gravity model). Another factor is the “integration gap” — namely the significantly lower scale and quality of integration in the developing world compared to the advanced economies.
The South-South FTA could serve to bridge this gap and foster “catch-up integration” or “integration convergence” vis-à-vis the developed world, writes Yaroslav Lissovolik, Programme Director of the Valdai Discussion Club.
#Valdai_WorldEconomy #BRICS #GlobalSouth
@valdai_club
Valdai Club
Towards a Free Trade Area for the Global South
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 for more ambitious steps directed at strengthening…
🇷🇺🌍 African countries and those in the global South have also come under greater diplomatic pressure from their European and US counterparts.
It is something that became a subject of discussion during US Secretary of State Antony Blinken’s recent visit to South Africa, where Minister of International Relations Dr. Naledi Pandor expressed South Africa’s reservations regarding a US law that seeks to punish countries seen as having close relations with Russia.
In a changing geopolitical environment, African countries and those of the global South seeking to maintain cooperation with Russia will thus need to factor in these dynamics, which have been introduced to undermine relations in a similar manner that China’s engagement with Africa and the global South has been viewed with scepticism by counterparts in the West.
In order to achieve their development goals, African countries will largely seek to not get drawn into taking positions that may backfire against their strategic interests. They will thus seek to work with all external actors wanting to forge ties with the continent, and Russia and its African partners will need to build on their comparative advantages.
As an agricultural power, Russia could identify opportunities to boost Africa’s own production and enhance its food security. This would position Russia as a strategic partner in the pursuit of Africa’s green revolution and efforts to build a greater degree of resilience on the continent, writes Philani Mthembu, Executive Director at the Institute for Global Dialogue, South Africa, for the 19th Annual Meeting of the Valdai Discussion Club.
https://valdaiclub.com/a/highlights/russia-africa-and-the-global-south-enhancing/
#VALDAI2022 #Africa #GlobalSouth
@valdai_club
It is something that became a subject of discussion during US Secretary of State Antony Blinken’s recent visit to South Africa, where Minister of International Relations Dr. Naledi Pandor expressed South Africa’s reservations regarding a US law that seeks to punish countries seen as having close relations with Russia.
In a changing geopolitical environment, African countries and those of the global South seeking to maintain cooperation with Russia will thus need to factor in these dynamics, which have been introduced to undermine relations in a similar manner that China’s engagement with Africa and the global South has been viewed with scepticism by counterparts in the West.
In order to achieve their development goals, African countries will largely seek to not get drawn into taking positions that may backfire against their strategic interests. They will thus seek to work with all external actors wanting to forge ties with the continent, and Russia and its African partners will need to build on their comparative advantages.
As an agricultural power, Russia could identify opportunities to boost Africa’s own production and enhance its food security. This would position Russia as a strategic partner in the pursuit of Africa’s green revolution and efforts to build a greater degree of resilience on the continent, writes Philani Mthembu, Executive Director at the Institute for Global Dialogue, South Africa, for the 19th Annual Meeting of the Valdai Discussion Club.
https://valdaiclub.com/a/highlights/russia-africa-and-the-global-south-enhancing/
#VALDAI2022 #Africa #GlobalSouth
@valdai_club
Valdai Club
Russia, Africa, and the Global South: Enhancing Cooperation Amid Changing Geopolitical Dynamics
Besides not having a comparable presence such as key European countries and the US since the fall of the Soviet Union, Russia continues to be valued as a partner in many African countries. These countries are often not in a position to choose their external…
🇧🇷🇷🇺🇮🇳🇨🇳🇿🇦 The XV BRICS Summit in Johannesburg held in August of this year sparked a wide range of expectations regarding its growing weight in the international system.
The Summit’s agenda foresaw two prominent issues to address.
🔹 On one hand, particularly due to movements in favour of using national currencies in trade and financial exchanges among group members and other nations of the Global South, the creation of a common currency to replace the U. S. dollar as the dominant currency appeared as key issues to be addressed.
🔹 On the other hand, the expansion of the bloc to a broader platform, taking into account the numerous requests for entry from countries in the Global South.
The geographical balance of the new additions to BRICS clearly illustrates this intention. However, just like the original group and the currently expanded BRICS+, they present heterogeneities and asymmetries that will likely pose challenges in the future for consensus-building, Andrés Serbin writes.
https://valdaiclub.com/a/highlights/brics-political-and-geopolitical-challenges-a-view/
#EconomicStatecraft #BRICS #BRICS2023 #GlobalSouth #LatinAmerica #Argentina
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The Summit’s agenda foresaw two prominent issues to address.
🔹 On one hand, particularly due to movements in favour of using national currencies in trade and financial exchanges among group members and other nations of the Global South, the creation of a common currency to replace the U. S. dollar as the dominant currency appeared as key issues to be addressed.
🔹 On the other hand, the expansion of the bloc to a broader platform, taking into account the numerous requests for entry from countries in the Global South.
The geographical balance of the new additions to BRICS clearly illustrates this intention. However, just like the original group and the currently expanded BRICS+, they present heterogeneities and asymmetries that will likely pose challenges in the future for consensus-building, Andrés Serbin writes.
https://valdaiclub.com/a/highlights/brics-political-and-geopolitical-challenges-a-view/
#EconomicStatecraft #BRICS #BRICS2023 #GlobalSouth #LatinAmerica #Argentina
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Valdai Club
BRICS Political and Geopolitical Challenges: A View from the South
It is necessary to take into account Argentina's persistent interest in pursuing a relationship with the BRICS, which has been going through governments of different political persuasions since 2014. It also has a series of questions that will hopefully reveal…
🇵🇸 The recent crisis in Gaza was totally unexpected and confusing to the entire world, which was not prepared for the greater magnitude of escalation in the strategic region.
The impact of the conflict was more severe for North African countries, as they are already experiencing worsening economic and political crises. The region is struggling, with instability in Libya and chronic tension between Algeria and Morocco. Egypt has suddenly found itself facing a war on its borders, as it neighbours the two sides of the crisis, the Gaza Strip and Israel.
There is an urgent need for serious and active move from all countries to stop the war. The risks of a widening war are increasing. The burning fire must be extinguished before it turns into a regional or international war, a worst-case scenario that nobody wants to see happen, writes Nourhan ElSheikh.
https://valdaiclub.com/a/highlights/north-african-countries-and-the-palestinian-crisis/
#ModernDiplomacy #Palestine #GlobalSouth
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The impact of the conflict was more severe for North African countries, as they are already experiencing worsening economic and political crises. The region is struggling, with instability in Libya and chronic tension between Algeria and Morocco. Egypt has suddenly found itself facing a war on its borders, as it neighbours the two sides of the crisis, the Gaza Strip and Israel.
There is an urgent need for serious and active move from all countries to stop the war. The risks of a widening war are increasing. The burning fire must be extinguished before it turns into a regional or international war, a worst-case scenario that nobody wants to see happen, writes Nourhan ElSheikh.
https://valdaiclub.com/a/highlights/north-african-countries-and-the-palestinian-crisis/
#ModernDiplomacy #Palestine #GlobalSouth
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Valdai Club
North African Countries and the Palestinian Crisis: A New Circle of Escalation
There is an urgent need for serious and active move from all countries to stop the war. The risks of a widening war are increasing. The burning fire must be extinguished before it turns into a regional or international war, a worst-case scenario that nobody…
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🌞 Countries of the Global South
Why has the world been divided into the Global North and Global South in the 21st century? Who are the members of these macro-groups, how did they form, what do the countries within these groups have in common and how do they differ? You can learn about this and how the Global South countries are developing their relations with Russia and other powers in our video infographic.
#valdai2024 #valdai_infogaphics #GlobalSouth
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Why has the world been divided into the Global North and Global South in the 21st century? Who are the members of these macro-groups, how did they form, what do the countries within these groups have in common and how do they differ? You can learn about this and how the Global South countries are developing their relations with Russia and other powers in our video infographic.
#valdai2024 #valdai_infogaphics #GlobalSouth
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🔋 Energy for the Global South
The Global South is the socio-economic and political definition used to describe developing countries. These states are rich in a wide variety of resources, both fossil and renewable. The leaders in electricity generation among the Global South are China, India, Brazil, Saudi Arabia, Iran and Mexico. However, there are constraints to the development of green energy. You can find out which ones and how these challenges are being addressed in our infographic.
#valdai2024 #valdai_infogaphics #energy #GlobalSouth
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The Global South is the socio-economic and political definition used to describe developing countries. These states are rich in a wide variety of resources, both fossil and renewable. The leaders in electricity generation among the Global South are China, India, Brazil, Saudi Arabia, Iran and Mexico. However, there are constraints to the development of green energy. You can find out which ones and how these challenges are being addressed in our infographic.
#valdai2024 #valdai_infogaphics #energy #GlobalSouth
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