BOOK DESCRIPTION
Trade and financial flows within the global South are reshaping the world economy –but in what way and to whose benefit? This book explores the possibilities and challenges for development in the global South viewed through the lens of South-South trade and finance.
The book’s findings are based on a historical, theoretical, and empirical examination of South–South economic relations. In order to place current South-South relations in a historical context we first survey the modern economic history of South-South relations in the post-war period starting with the Non-Aligned Movement, regional integration attempts in developing Latin America, Africa and Asia, South-South coalitions in the World Trade Organization, and the rise of Bilateral Investment Treaties.
We then revisit the theoretical and empirical arguments on South-South economic exchanges and try to answer whether the poorest countries of the global South can truly be part of the new emerging world economic order, and, if so, how? Economic theory, both mainstream and heterodox, contains argument both for and against increasing South-South economic exchanges. We summarize the vast theoretical literature within international economics and international political economy on this issue and then compare these theories with the empirical evidence. Our empirical examination contains the most sweeping and detailed survey and comparisons of South-North and South-South exchanges.
In our last chapter we ask whether South-South economic exchanges today still hold the promise of an alternative path for development. We end by arguing that unless serious attention is paid to technology transfer, industrial upgrading, and issues such as labor and environmental rights, we may be witnessing a second Great Divergence rather than a ‘rise of the South.’ Our book ends with a proposed framework to address and reverse this increasing divergence within the global South.
The book’s findings are based on a historical, theoretical, and empirical examination of South–South economic relations. In order to place current South-South relations in a historical context we first survey the modern economic history of South-South relations in the post-war period starting with the Non-Aligned Movement, regional integration attempts in developing Latin America, Africa and Asia, South-South coalitions in the World Trade Organization, and the rise of Bilateral Investment Treaties.
We then revisit the theoretical and empirical arguments on South-South economic exchanges and try to answer whether the poorest countries of the global South can truly be part of the new emerging world economic order, and, if so, how? Economic theory, both mainstream and heterodox, contains argument both for and against increasing South-South economic exchanges. We summarize the vast theoretical literature within international economics and international political economy on this issue and then compare these theories with the empirical evidence. Our empirical examination contains the most sweeping and detailed survey and comparisons of South-North and South-South exchanges.
In our last chapter we ask whether South-South economic exchanges today still hold the promise of an alternative path for development. We end by arguing that unless serious attention is paid to technology transfer, industrial upgrading, and issues such as labor and environmental rights, we may be witnessing a second Great Divergence rather than a ‘rise of the South.’ Our book ends with a proposed framework to address and reverse this increasing divergence within the global South.
BOOK PRAISE
“This book unpacks the glib assumptions made by standard discussions of "South-South co-operation" to reveal a much more complex, nuanced and uneven dynamic process in which power relationships and political economy considerations matter crucially. The economic rise of some countries has both positive and negative implications for other countries of the Global South - how to make the outcomes more mutually beneficial is the critical question that the authors explore. Important reading for anyone who wants to understand current global economic realities.”
Jayati Ghosh, Professor of Economics, Jawaharlal Nehru University, New Delhi, India
Jayati Ghosh, Professor of Economics, Jawaharlal Nehru University, New Delhi, India
“Omar Dahi and Firat Demir have produced a first-rate study of the constraints and possibilities of trade and finance for the Global South. Nose to the figures technical knowledge is combined with smart analytical work to deliver one of the best – and most readable – accounts of maldevelopment in our times. This is the kind of book that, I hope, would resuscitate Development Economics. Given that the authors predict the opening up of a Second Great Divergence, and that they have proposals to prevent it, this book is – for billions of people – a matter of life and death.”
Vijay Prashad, George and Martha Kellner Chair in South Asian History and Professor of International Studies at Trinity College, USA.
Vijay Prashad, George and Martha Kellner Chair in South Asian History and Professor of International Studies at Trinity College, USA.
"South-South cooperation was once viewed as a major component of an alternative and more equitable route to development for the marginalized countries of the global economy facing the inequities of North-South economic relations. With the rise of the emerging South, a large group of semi-industrial or newly industrialized countries in the global economy, does this promise still hold? Or will the widening of economic disparities within the global South continue and result in a second great divergence, this time between the emerging South and the rest of the South? In this book, Omar Dahi and Firat Demir address these fundamental questions through what is probably the most comprehensive and deep analysis to date of the past and present as well as the likely and desirable futures of South-South economic relations."
Jaime Ros, Professor of Economics, The National Autonomous University of Mexico (UNAM); Professor Emeritus of Economics and Faculty Fellow of the Kellogg Institute for International Studies, University of Notre Dame.
Jaime Ros, Professor of Economics, The National Autonomous University of Mexico (UNAM); Professor Emeritus of Economics and Faculty Fellow of the Kellogg Institute for International Studies, University of Notre Dame.
“South-South economic relations, including trade, has become and will continue to be, a major element of the global economy. This timely and pioneering book presents and discusses a large mass of data, analytical perspectives, and political economy analysis, to document and dispassionately evaluate such interactions, and to contribute towards how they can serve to promote just and equitable global development. Highly recommended for those interested in development and international political economy.”
Amitava Krishna Dutt, Professor of Economics and Political Science, Fellow Kroc Institute for International Peace Studies and Kellog Institute for International Studies, University of Note Dame, USA
Amitava Krishna Dutt, Professor of Economics and Political Science, Fellow Kroc Institute for International Peace Studies and Kellog Institute for International Studies, University of Note Dame, USA
“A comprehensive and timely overview of trade and development-related thought from the classical theories to "New-Developmentalism," complemented by an impressive array of statistics and empirical analysis. As challenges to globalization rise, this book will serve as a useful resource for academics, policy makers, and citizens interested in data-based thinking about the big picture issues.”
Arslan Razmi, Associate Professor of Economics, University of Massachusetts-Amherst, USA
Arslan Razmi, Associate Professor of Economics, University of Massachusetts-Amherst, USA
