Global South
Global south economists call for independent industrial policy at festival
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At the Festival of Economies for Life, international economists urged transforming the current economic model due to its inequality and colonial logics. Experts like Jayati Ghosh, Pedro Rossi, and Fadhel Kaboub advocated sovereign industrial policies and south-south cooperation. The event, organized by the Ministry of Education and the Progressive International, runs until May 4.
Chinese President Xi Jinping met with Russian Foreign Minister Sergei Lavrov in Beijing on Wednesday, urging closer strategic coordination between the two countries to defend their legitimate interests and uphold Global South unity. Xi highlighted the stability and certainty of China-Russia relations amid a changing and turbulent international situation.
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As detailed in earlier coverage of initial BRICS fractures and market shocks from the US-Israeli war on Iran, the bloc's expanded membership continues to hinder a unified response. New members Iran and UAE are directly opposed, with India's chairmanship reluctant to force consensus ahead of its summit.
President Lee Jae-myung departed Seoul on November 17 for the G20 summit in Johannesburg, embarking on a four-nation tour to the Middle East and Africa. The trip aims to diversify South Korea's diplomatic ties in the Global South, visiting the UAE, Egypt, South Africa, and Turkey.