Global turbulence, emerging powers and the regional integration potential in the Global South

Abstract

During the past decade the world has witnessed an increase of developments that are shaking the global status quo. Among others, China-US/West economic frictions and the Russian invasion in Ukraine are leading to a retreat of globalization, with emphasis being given to regional production networks and value chains. Likewise, there are signs of reorganization or reinforcement of regional integration schemes such as the Shanghai Cooperation Organization and South–South cooperation fora such as the BRICS in view of failure of global governance structuresto optimally address the various issues raised. This article explores these developments and highlights how the alternatives created by the emergence of new “grand” actors are producing a potential bandwagoning effect in the Global South.