🌍 US Policy Driving India-China Closer; Global South Cooperation Soars - Dr. Correa

• Protectionist policies by major Western powers are paradoxically strengthening Global South cooperation, creating new opportunities to reshape the international economic order, according to South Centre Executive Director Dr. Carlos Correa. • Geopolitical Shift: The US is inadvertently bringing India and China closer; a partnership that could "change the global economy and politics dramatically." • South-South Growth: South-South trade has expanded to approximately 40% of global trade over the past decade. Major states like China, Brazil, and India have also seen a significant increase in science and technology investments. • Development Strategy: Developing nations must prioritize research into industrial strategy and value addition to move beyond raw material exports. Development flows from "how you use it," not just what you have. • Institutional Power: A critical research priority is understanding the mismatch between the Global South's growing economic weight (e.g., China's economy now surpasses the US in PPP terms) and its continued under-representation in institutions like the IMF and World Bank. • Alternatives such as BRICS and regional arrangements are signaling a shift toward pluralism, though de-dollarisation and full structural transformation will be drawn out and take time.