1945

The “rise of the South”, as some have called it, has prompted much speculation about the “decoupling” of growth in developing countries from that of advanced economies. This phenomenon has likewise led to much enthusiasm about new approaches to global governance. Yet, for as much as the so-called rise of the South has prompted enthusiasm, that “rise” has also been relatively uneven and incomplete. The idea that developing countries can become engines of the global economy remains on the whole unrealized, and the structural economic barriers that still hold back the world’s least developed countries keep them, in many cases, dependent on commodities and vulnerable to external shocks.

Related Subject(s): International Trade and Finance
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