As the Boao Forum for Asia (BFA) Annual Conference 2025 kicks off, the world finds itself at a crucial turning point. Amid profound geopolitical and economic shifts, nations from the Global South are championing a unified vision for modernization, emphasizing deepening regional cooperation and tailored development strategies.
Drawing on insights from experts like Yasiru Ranaraja—a researcher on maritime affairs and Belt and Road Initiative development—the narrative emerging from Asia is one of proactive change. Rising economies including the Chinese mainland, India, Vietnam, and Indonesia are not only reshaping their own futures but also driving global economic trends. Today, these nations account for 42 percent of the world’s GDP, and emerging markets now represent over 50 percent of global GDP in 2024. Over the past two decades, the remarkable progress has lifted more than 1 billion people out of extreme poverty.
Innovative infrastructure projects such as the China-Europe Railway Express, which links over 220 cities across 25 European nations, highlight how decentralized supply chains are transforming connectivity and trade. Platforms like the BFA are fostering dialogue on trade, finance, technology, climate action, and sustainable development – proving that modern challenges require solutions crafted to local realities and regional strengths.
While traditional power dynamics in the West face political and economic challenges, the Global South is steadily crafting its own path to progress. This unified vision not only drives economic innovation but also sets a new blueprint for sustainable development, demonstrating that collaborative regional partnerships can reshape globalization for the better.
Reference(s):
Can the Global South create a unified vision for modernization?
cgtn.com
