What is the Global South? #TMS

Summary

The term 'Global South', often used to describe developing countries with lower economic and industrial development, has gained prominence in global summits. It replaced the term 'Third World' due to its negative connotations. The Global South, which includes nations with shared political and economic traits, is experiencing a rise in economic and political influence. With wealth shifting from the North Atlantic to the Asia Pacific, countries like China and India are leading economic growth. By 2030, the Global South is projected to have three of the four largest economies, challenging traditional power dynamics and suggesting a future where regional partnerships could play a crucial role in global affairs.

Takeaways

• 🌏 The term 'Global South' is gaining prominence in global discussions and summits, reflecting a shift in focus towards developing countries.
• 🏛 Historically, the 'Global South' replaced the term 'Third World' after the Soviet Union's dissolution in 1991, as 'Third World' had negative connotations.
• 📊 The 'Global South' lacks a precise geographical boundary and instead signifies shared political, geopolitical, and economic traits among nations.
• 🏙️ Many countries in the Global South, particularly in Africa, carry the legacy of imperialism and colonial rule.
• 🌟 The economic and political influence of the Global South has been on the rise, with a notable wealth transfer from the North Atlantic to the Asia Pacific.
• 💹 Projections indicate that by 2030, three of the world's largest economies will be from the Global South, with China and India leading the way.
• 🔝 The combined GDP of BRICS nations (Brazil, Russia, India, China, and South Africa) already surpasses that of the G7 countries.
• 🤝 The Global South has the potential to become a significant power through strengthened regional partnerships, such as BRICS, SCO, and BIMC.
• 🔄 These partnerships aim to collectively address global challenges and enhance economic cooperation among member nations.
• 📈 The current chair of BRICS, South Africa, declared its goal to advance the agenda of the Global South during the BRICS Summit held in September.
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Q & A

What does the term 'Global South' refer to?

The term 'Global South' is a shortcut to refer to developing countries that have a relatively low level of economic and industrial development and are typically located to the south of more industrialized nations.

Why has the term 'Global South' become more prevalent in global summits?

The term 'Global South' is increasingly used in global summits because it denotes shared political, geopolitical, and economic traits among nations, and it has emerged as a neutral alternative to the term 'Third World,' which had garnered negative connotations.

What was the traditional list of nations that made up the 'Third World'?

The traditional list of 'Third World' nations was based on their level of economic development, but this list is now considered outdated as these nations are spread across a large spectrum of economic development.

Why did the term 'Third World' fall out of favor?

The term 'Third World' fell out of favor because it became associated with negative connotations such as poverty and instability, especially after the dissolution of the Soviet Union in 1991.

What is the significance of the 'BRICS Summit' mentioned in the script?

The BRICS Summit is significant because it represents a gathering of influential developing nations (Brazil, Russia, India, China, and South Africa) that are increasingly playing influential roles in global affairs.

What is the current chair of the BRICS Summit and what is its declared goal?

The current chair of the BRICS Summit is South Africa, and its declared goal is to advance the agenda of the Global South.

What does the 'Global South' share in terms of historical context?

Many countries in the Global South share legacies of imperialism and colonial rule, which have influenced their economic and political development.

How has the economic and political influence of the Global South changed in recent decades?

In recent decades, the Global South has undergone a transformative shift in economic and political influence, with a wealth transfer from the North Atlantic to the Asia Pacific, challenging traditional notions of economic power.

What economic projections are there for the Global South by 2030?

Projections suggest that by 2030, three of the four largest economies will be in the Global South, led by China and India.

What is the combined GDP of the BRICS nations in relation to the G7?

The combined GDP of the BRICS nations already exceeds that of the G7, indicating a significant economic shift in global power dynamics.

How can the Global South potentially emerge as a big power in the future?

The Global South can potentially emerge as a big power through reinforced regional partnerships like ASEAN, SCO, BRICS, and BIMSTEC to collectively tackle challenges and bolster economic ties.