South-South Trade Boom Reshapes Global Order

IPSNews reports:

The world's new economic powerhouses, including India, Brazil, South Africa and China, are largely responsible for a dramatic surge in trade and investments among the 132 developing nations in the global South."The South as a whole is not only richer in absolute terms but their combined economic weight relative to the global economy has also substantially increased," says Yiping Zhou, director of the U.N.'s Special Unit for South-South Cooperation...During the past two-three decades, Zhou pointed out, developing country economies have grown much faster than those of the developed and transition economies.New patterns of trade, investment and other economic linkages are emerging rapidly, eroding the structures inherited from a colonial past, he added."This reality is also changing the institutional and power structures of the South, presenting before us an entirely different landscape of South-South and, for that matter, also South-North relations politically, economically and culturally."