Executive summary

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. Examples are expansion of the Group of Eight to the Group of 20, as one response to the global financial crisis a decade ago; the emergence of Brazil, the Russian Federation, India, China and South Africa – the BRICS countries – as a grouping of major developing countries, which now meets regularly; and new sources of Southern-led development finance, such as the New Development Bank (i.e. the “BRICS bank”) and the Asian Infrastructure Infrastructure Bank.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Reduced Inequalities