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Towards a New Global Financial Architecture for the Global South

Haider Khan ()

MPRA Paper from University Library of Munich, Germany

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.

Keywords: Ukraine; multi[polarity; BRICS; expanded BRICS; China; The Global South (search for similar items in EconPapers)
JEL-codes: F33 F34 F38 (search for similar items in EconPapers)
Date: 2023-06-01
New Economics Papers: this item is included in nep-cis and nep-ifn
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