The Global South and Financial Governance

The notion that the underlying distribution of global power is shifting from West to East and from North to South is not new. For more than a decade, astute observers have noted that countries like China, Brazil and India, among others, were consistently posting impressive economic growth rates and closing the gap separating them from the advanced industrial economies. Yet, even as the reality of their economic rise was impossible to dispute, the structures of global financial governance did not adapt to reflect these changes. Of course, this is not surprising, as international institutions are notoriously resistant to reform. As […]

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