The tropical charm of Hainan set the stage at this year’s Boao Forum for Asia, where under brilliant sunlight and amidst swaying palm trees, delegates gathered to discuss a transformative shift in global economics. For decades, the forum has been a hub for Asia’s economic integration, but this year, the spotlight turned to the rising influence of the Global South.
Representing over 40% of global GDP and driving 80% of economic growth, developing regions are steadily asserting their role on the world stage. Experts such as Professor Carl Fey of BI Norwegian Business School note that it is only natural for emerging economies to claim a larger share in international politics. As one analyst observed, the gradual but determined rise of the Global South reflects not only economic potential but also the drive to redefine global power dynamics.
However, systemic challenges remain. Long dominated by Western powers in financial institutions, developing nations argue for reforms in international architectures that better reflect today’s reality. Voices like those of Michele Geraci have highlighted the need for established powers to accept a shifting balance—a move toward more equitable, sustainable development. Meanwhile, initiatives such as the BRICS association and major connectivity projects, including expansive infrastructure ventures, are paving the way for a more inclusive order.
At Boao, discussions emphasized that the empowerment of the Global South is not merely an economic imperative but also a call for political and social renewal on a global scale. The increased participation of developing regions at platforms like the UN further underlines a future in which voices from every corner of the world contribute to shaping international policies and sustainable growth models.
For a digitally savvy, globally connected audience, these developments offer fresh perspectives on innovation, economic opportunity, and the evolving landscape of international collaboration. As the world embraces new alliances and reimagines old structures, the Global South stands ready to lead the charge toward a more balanced and inclusive global order.
Reference(s):
To empower the Global South, a more inclusive global order imperative
cgtn.com
