Towards a New Global Financial Architecture for the Global South

Khan, Haider (2023): Towards a New Global Financial Architecture for the Global South.

Abstract

Abstract:

The main argument is that a historical nodal point has arisen with the advent of the tragic war in Ukraine and the US hostilities towards China. THE sanctions regimes of the US-led Global North have compounded the instabilities in the existing system. As the world system moves towards multipolarity, an opportunity exists for the Global South to construct through partial delinking from the post WW2 financial architecture under US hegemony. Construction of an expanded BRICS-led supra regional financial architecture along with regional financial architectures will be a good step forward. Within two decades dedollarization will become a reality. Finally, a new non-aligned movement and construction of genuinely pro-people development programs can also become a reality.

• Item Type: MPRA Paper
• Language: English
• Keywords: Ukraine, multi[polarity, BRICS, expanded BRICS, China, The Global South
• Subjects: F - International Economics > F3 - International Finance > F33 - International Monetary Arrangements and Institutions; F - International Economics > F3 - International Finance > F34 - International Lending and Debt Problems; F - International Economics > F3 - International Finance > F38 - International Financial Policy: Financial Transactions Tax; Capital Controls

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