A Southwards Shift of the Economic Base

Hyper-Imperialism: A Dangerous Decadent New Stage - PART V: Changes in the World Order

This article is is reprinted from Tricontinental, an international institute guided by popular movements and organisations.

• China is the world’s leading industrial country with a 25.7% share value added, while the US holds only a 9.7% share.

• The Global South has a 69.4% share, while the Global North has a 30.6% share.

• BRICS10 has a 44% share and exceeds the G7.

• The share of Japan, Germany, France, and the UK are also declining, whilst India is increasing.

As the countries of the Global North have faced prolonged declining economic growth, countries of the Global South, especially in Asia, have displayed a higher economic growth trajectory over the past thirty years. As can be seen in Figure 39, at the end of the Cold War in 1993, the Global North accounted for 57.2% of the global GDP (PPP), while the Global South accounted for just 42.8%. Thirty years later, these proportions have definitively inverted: the share of the Global South has reached 59.4%, with the Global North holding at 40.6…