Why the Global South matters in world affairs

Summary

This video highlights the growing influence of the Global South in global governance, emphasizing the importance of cooperation among emerging economies. The discussion, featuring prominent figures from the Shanghai Cooperation Organization (SCO) and the United Nations, addresses the need for better communication, sustainable development, and increased representation of the Global South in international platforms. The session explores China’s role in fostering regional cooperation, the challenges of using local currencies in trade, and the broader geopolitical landscape, with an emphasis on security, economic development, and international collaboration in a rapidly changing world.

Takeaways

• 😀 Global South nations are increasingly influential, representing 80% of the world’s population and 40% of global GDP, yet their voices are often underrepresented in major international organizations.
• 🌍 The Shanghai Cooperation Organization (SCO) is positioning itself as a critical player in fostering regional cooperation, security, and economic development within the Global South.
• 💰 Currency diversification is gaining momentum among SCO and BRICS countries, aiming to reduce dependence on the US dollar and promote local currencies for international trade.
• 🚀 China is emerging as a key economic partner in the Global South, promoting market openness, sustainable development, and fostering regional economic stability.
• 🔒 The SCO’s security agenda has expanded beyond combating terrorism and extremism, now addressing transnational crime, drug smuggling, weapons trafficking, and even cybersecurity.
• 🌱 Climate change is now considered a global security issue, with the SCO and Global South nations prioritizing energy security and environmental sustainability.
• 💬 The geopolitical landscape is shifting towards a multipolar world, with the Global South playing an increasingly prominent role in shaping global governance.
• 👥 There is a growing focus on people-to-people exchanges, enhancing mutual trust and understanding between nations, alongside political and economic cooperation.
• 🔄 The SCO is set to expand its anti-terrorism center into a broader regional security hub, adding dedicated facilities for fighting organized crime, drug trafficking, and ensuring data security.
• ⏳ Despite rising geopolitical tensions, there is optimism within the Global South regarding the future, with leaders committed to proactive and cooperative solutions to global challenges.

Q & A

What is the significance of the Global South in global governance today?

The Global South plays an increasingly significant role in global governance, being represented in major international platforms such as BRICS, the G20, and the Shanghai Cooperation Organization (SCO). Despite their growing presence, the collective voice of the Global South still needs to be heard louder and more clearly, especially in media and political discourse.

What are some of the primary goals of Global South countries in international cooperation?

Global South countries aim to foster economic cooperation, sustainable development, and a more equitable global governance system. This includes moving away from traditional methods that exploit non-renewable resources and overuse the environment. There is also a focus on addressing climate change, improving trade relationships, and ensuring more equal representation in global affairs.

How does China’s role impact the economic cooperation among Global South countries?

China’s development experience serves as a significant model for Global South countries. Through trade initiatives, including imports and exports, and its participation in global supply chains, China offers a more stable and predictable trade environment, which benefits both China and its partners. This approach is seen as a way to provide 'global public goods,' including stable markets and predictable global value chains.

What challenges do Global South countries face in terms of economic power and soft power?

Despite accounting for 80% of the global population and contributing 40% to the global GDP, the Global South's soft power, as measured by culture, economic influence, and governance, remains relatively limited. Bridging this gap will take time, as the Global North has had centuries to build its cultural, economic, and governance systems.

How do Global South countries view the dominance of the U.S. dollar in the global financial system?

While the U.S. dollar remains dominant in global trade and finance, Global South countries are increasingly exploring alternatives. The rise of other currencies, particularly the Renminbi, is seen as a gradual process. It’s not a binary shift but a step-by-step move toward a more diversified financial system that could reduce reliance on the dollar over time.

What role does the Shanghai Cooperation Organization (SCO) play in regional security and economic cooperation?

The SCO plays a crucial role in regional security, focusing on combating terrorism, extremism, and transnational organized crime. Beyond security, the SCO fosters economic cooperation, political trust, and people-to-people exchanges. It is increasingly focusing on issues like energy security, food security, and climate change, all within the framework of multilateral collaboration.

What is the significance of local currency payments in Global South economic cooperation?

Local currency payments are becoming a trend in the region, as they help reduce dependency on dominant currencies like the U.S. dollar. The SCO has actively promoted the use of local currencies for trade, with member states making steady progress in this area. This helps create a more stable and independent financial ecosystem, reducing vulnerabilities in international trade.

How does the SCO plan to expand its security cooperation beyond traditional military concerns?

The SCO is expanding its security cooperation to include a wider range of issues beyond traditional military concerns. This includes combating drug trafficking, ensuring data security, and tackling issues like climate change, food, and energy security. The SCO is also working on setting up specialized centers, such as the anti-drug and anti-organized crime centers, to address these evolving security challenges.

How does the SCO handle its internal cooperation and coordination despite being a large organization?

The SCO, while being one of the largest regional organizations, maintains efficient coordination despite having a relatively small Secretariat. With only 36 staff members, the SCO operates through a network of more than 50 ministerial cooperation mechanisms, expert workshops, and regular meetings. The organization also relies on interbank consortia and think tanks to drive its goals forward.

What does the future hold for the Global South in relation to global power dynamics?

The future of the Global South in global power dynamics looks promising, as the region continues to assert itself in global governance. Over time, the Global South could surpass the Global North in terms of GDP, manufacturing power, and financial influence. However, achieving cultural and soft power influence, which remains the last frontier, will take further time and effort.