Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
Almaty, December 9 (Xinhua) — Countries in the Global South are now becoming a key driver of the global economy, accounting for a significant portion of global growth thanks to higher growth rates, growing domestic demand, and deepening trade among developing countries. This opinion was expressed by Gulnar Shaimergenova, Director of the Center for China Studies, in an interview with Xinhua News Agency.
Touching on the economic rise of the Global South, the expert noted that it is based on a combination of economic power, demands for reform of the multilateral governance architecture, and cumulative dissatisfaction with the asymmetries of the existing order. However, the pragmatic economic interests of development, industrialization, and technological innovation remain the dominant factor.
"The economic and financial dimension of the South's growing influence is evident in the discussions of reforms to the New Development Bank and national currency settlement mechanisms. This reflects the desire of Southern countries to reduce their vulnerability to external shocks and the costs of dollar-centricity. These processes do not eliminate the role of existing institutions, but they signal the formation of a diversified financial ecosystem in which the voices of developing economies are noticeably louder," noted G. Shaimergenova.
According to her, the key structural drivers of this process are demographic potential, industrialization, and digital transformation, as well as the resource base for green and technological transitions. A young population, rapid urban growth, and the emergence of a middle class are creating a growing consumer market, while the transition to higher value-added processes in industry and the development of a digital economy are increasing added value.
"Growing dissatisfaction with certain aspects of the Western-centric order—sanctions, unilateral trade measures, criteria-based approaches to ratings—is serving as a catalyst for alternative initiatives. However, for most countries in the Global South, the priority remains not confrontation, but diversification: a desire to minimize dependencies and expand room for maneuver in the global economy," the expert said.
She also noted that Kazakhstan, positioning itself as a responsible middle power and a transport and logistics hub for Eurasia, views the rise of the Global South as an opportunity to strengthen mutually beneficial trade, transit, and industrial cooperation.
"In my view, the economic strength of the Global South and its active position on reforming multilateral institutions are a natural consequence of profound structural shifts in the global economy. If managed properly, these processes can strengthen global resilience rather than undermine it," G. Shaimergenova emphasized.
She expressed the opinion that in recent years, the Shanghai Cooperation Organization (SCO) and the Belt and Road Initiative have become increasingly important in strengthening mutual trust and cooperation between Eurasian countries.
"China is making a key contribution to the practical implementation of the South-South Partnership, aligning the Belt and Road Initiative with the national strategies of the region's states. The combined efforts of Kazakhstan and China give cooperation within the SCO a practical focus and make it an effective driver of long-term Eurasian connectivity, ensuring the region's transformation into a zone of stability and prosperity," the expert explained.
Thus, in her view, the growing influence of the Global South is an opportunity to renew multilateral institutions based on inclusiveness, equality and respect for international law.
"Kazakhstan consistently promotes a multi-vector policy, advocating for deepening South-South cooperation and active participation in new integration initiatives, while insisting on maintaining the central role of the United Nations. It is important to emphasize that this evolution must occur through dialogue and mutual concessions, rather than through the widening of dividing lines, which is fully consistent with Kazakhstan's strategic approach to strengthening predictability, dialogue, and trust in international relations," concluded G. Shaimergenova.
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