Can the Global South Create a Unified Vision of Modernization?

As the annual Boao Forum for Asia (BFA) conference begins, the world is on the brink of profound geopolitical and economic transformations. The growing disparities between Western governments and the inefficacy of governance are now a global debate; most countries in the Global South are now focusing on developing interdependent regional cooperation. The shift in dynamics indicates that the Global South is adopting an increasingly influential position that works towards realizing the vision of a group of states that intend to create their own path to modernization and development.

The Global South presents an atmosphere full of hope in Asia, paving the way to establish a path for sustainable economic growth. Over the years, the BFA has established itself as a leading platform for global issues, ranging from trade and finance to technology, climate action, and sustainable development. As a global platform for countries in the region to strengthen cooperation, mutual trust, and forge solutions for mutual benefits in the broader Global South, the Forum is the first of its kind.

The rise of China, India, Vietnam, Indonesia, and other emerging economies continues, highlighting the growing impact of the Global South in shaping a future world with a global balance of power. Meanwhile, Europe and the United States are plagued by increasing political turmoil, and the Middle East struggles with instability; nations in Asia are engaging in increasingly constructive dialogue on shared interests, such as the China-Japan-South-South trilateral talks. These efforts highlight the potential of regional cooperation to overcome old divisions and advance new paths.

The rapid economic growth of countries in the Global South demonstrates that the Global South is not simply a passive actor but an active participant in the global economy. These nations are uniquely positioned to drive innovation and modernization by developing strategies tailored to their specific conditions while meeting global demand for progress.

The economic rise of the Global South is no longer a prediction; it is a fact. Today (starting from 2023), these nations alone account for 42% of global GDP, and this figure has been steadily increasing as emerging economies have declined and major Asian economies have grown. Emerging markets, many of which are in the Global South, including powerhouses like China, Brazil, and South Africa, now represent over 50% of global GDP in 2024. Over the past two decades, more than a billion people in developing countries have been lifted out of extreme poverty, a testament to the transformative capacity of the Global South. However, this momentum must be strategically harnessed to bridge the North-South divide.

Over the past decade, the Asian region has undergone a profound transformation across multiple sectors, amplifying the potential of the Global South, from which decentralized supply chains have emerged, connecting landlocked nations in East Asia to Central Asia and Europe through an expansion of railway networks, such as European countries from China since its inception.

The 100,000th China-Europe freight train, coded x8083, departing from Tuanjien Station in Chongqing, southwest China, on November 15, 2024. / Xinhua

Simultaneously, east-west maritime routes have seen significant development with the rise of major ports like Hambantota in Sri Lanka, Gwadar in Pakistan, new facilities at Chittagong Port in Bangladesh, and Tuas Mega Port in Singapore. In India, new Greenfield ports are being 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 improve connectivity for landlocked states like Nepal and Central Asian nations but also position Asia as a hub for global trade, building an antifragile trading system with an alternative to uniform east-west shipping routes.

However, the modernization of the Global South cannot be a rerun of the models used in previous decades. The future course must suit the unique opportunities and challenges of these regional nations.

As Chinese President Xi Jinping emphasized at the BFA 2023, the future of the Global South must be based on values that advance peace, security, and collaboration. By addressing security issues, his six commitments under the Global Security Initiative highlight the importance of inclusivity, peaceful dispute resolution, respect for sovereignty, and comprehensive and cooperative security. These ideas are essential for maintaining political stability and creating an atmosphere that supports economic development and progress.

In particular, digital transformation presents vast opportunities for nations in the Global South to overcome traditional development stages. Countries like China, India, and Vietnam are already making progress in technology and digital infrastructure, which can accelerate their economic and social development. At the same time, promoting innovation in green technologies and sustainable industries will help nations in the Global South address the challenges of climate change while ensuring future prosperity.