INSUBCONTINENT EXCLUSIVE:
As the Boao Forum for Asia (BFA) Annual Conference 2025 begins, the world is at the tipping point of profound geopolitical and economic
The growing disparities between Western governments and the inefficacy of governance are now a global core debate; most Global South nations
are now focusing on developing interdependent regional cooperation
The shift in dynamics is indicative of the Global South taking an increasingly influential position that works to realize the vision of a
group of states that are intent on creating their own path of modernization and development.The Global South presents a hopeful atmosphere
in Asia by leading the way in establishing a path for sustainable economic growth
Over the years, the BFA has established itself as a leading platform for dialogue on global issues, ranging from trade and finance to
technology, climate action and sustainable development
As a global platform for countries of the region to build cooperation, mutual trust and forge solutions of common benefit to the wider
Global South, the forum is the first of its kind.The rise of China, India, Vietnam, Indonesia, and other emerging economies continues,
highlighting the Global South's increasing impact on shaping a future world with a global power balance
Meanwhile, Europe and the United States are beset by growing political turmoil, and the Middle East struggles with instability; nations in
Asia engage in increasingly constructive dialogue on shared interests, such as China-Japan-South Korea trilateral talks
growth of Global South countries demonstrates that the Global South is not merely a passive player but an active participant in the global
These nations are uniquely positioned to drive innovation and modernization by developing strategies suited to their specific conditions
while responding to the worldwide demand for progress.The Global South's economic rise is no longer a prediction; it's a fact
Today (as of 2023), these nations alone account for 42 percent of the world's GDP, and this figure has been steadily increasing as
emerging economies declined and significant Asian economies grew
Emerging markets, of which many in the Global South, including the powerhouses of China, Brazil and South Africa, now account for over 50
percent of global GDP in 2024
Over the last two decades, more than 1 billion people in developing countries have been lifted out of extreme poverty, a testament to the
Yet, this momentum must be harnessed strategically to bridge the North-South divide.During the past decade, the Asian region has undergone a
profound transformation across multiple sectors, amplifying the Global South's potential, out of which decentralized supply chains have
emerged, linking landlocked nations from East Asia to Central Asia and Europe via expanding rail networks, such as the China-Europe Railway
Express, which has grown to connect more than 220 cities across 25 European countries since its inception.
The 100,000th China-Europe
freight train, coded X8083, departing from the Tuanjiecun Station
in Chongqing, southwest China, November 15, 2024
/Xinhua
Simultaneously, the East-West sea routes have seen significant development with the rise of major ports like Hambantota in Sri
Lanka, Gwadar in Pakistan, new facilities in Chittagong Port in Bangladesh and Tuas Maga Port in Singapore
In India, new greenfield ports are built with associated infrastructure, such as railway lines through the Sagarmala project and the
National Maritime Development Program, which emphasize Asian growth.These developments not only enhance connectivity for landlocked states
like Nepal and Central Asian nations but also position Asia as a hub for global commerce, building an antifragile trade system with an
alternative towards uniform East-West shipping routes.However, modernization for the Global South cannot be a rerun of the models used in
The future course must suit these regional nations' unique opportunities and challenges.As Chinese President Xi Jinping underlined at the
2023 BFA, the future of the Global South must be based on values that advance peace, security and collaboration
In tackling security issues, his six pledges under the Global Security Initiative emphasize the significance of inclusiveness, peaceful
dispute resolution, sovereignty respect, and comprehensive and cooperative security
These ideas are essential for maintaining political stability and creating an atmosphere that supports economic development and
advancement.In particular, the digital transformation presents vast opportunities for the Global South nations to overcome traditional
Countries like China, India and Vietnam are already making strides in technology and digital infrastructure, which can accelerate their
economic and social development
At the same time, fostering innovation in green technologies and sustainable industries will help the Global South nations meet the
challenges of climate change while ensuring future prosperity.(Source: CGTN)
