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Multi-alignment and De-risking: The Global South Response to World Fragmentation

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Turbulences and conflicts threaten the stability of the global order. What is the Global South’s response to these risks?

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The Global South’s response to these fragmentation risks can analyzed as taking two main forms: a political one through multi-alignment and an economic one aimed at de-risking. Through multi-alignment, countries in the South aim to broaden their alliances with major global poles, freeing themselves from the ideological constraints of the past to reduce geopolitical risks. De-risking entails the strengthening of economic cooperation within the Global South. This Ifri Paper analyses and illustrates these responses.

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979-10-373-0927-3

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Multi-alignment and De-risking: The Global South Response to World Fragmentation

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Geoeconomics and Geofinance Initiative
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Economic questions are approached from a political economy perspective: the evolution of the global economic system, governance and institutions, dynamics and trends of various economic zones (United States, Russia, China, emerging markets...). European issues are at the core of our research. 

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Power and Financial Interdependence

Date de publication
03 May 2024
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The link between financial self-reliance and geopolitical power has long been debated. The unbalanced Sino-American trade relationship has created asymmetric financial ties which generate potential sources of leverage for both parties and will not quickly disappear. Absent a clarifying major crisis, it will be difficult to definitively determine which party has greater leverage.

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Why Chinese Fintechs Have Failed to Reshuffle International Finance

Date de publication
04 March 2024
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New Chinese financial technologies, including unparalleled electronic payment systems, have so far failed to threaten U.S. financial dominance.

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Climate, Finance, and Geopolitics: Human Self-delusions and the Challenges for Europe

Date de publication
11 December 2023
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The combination of geopolitical tensions, climate disruption, and the growing role of finance in the economy is taking us into uncharted territory. Until recently, each of these subjects was handled separately, but they are now inextricably linked by two shared characteristics: the gravity of the threat, and the fact that they all lay bare the scale of human self-delusions.

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Impossible Decoupling, Improbable Cooperation: Economic Interdependencies in the Face of Power Rivalries

Date de publication
02 November 2023
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Export restrictions, economic and financial sanctions, politicization of monetary and financial choices, screening of inward and outward foreign direct investments, exceptional customs duties, and state interventions in sectors deemed strategic: the political vise is tightening around international economic and financial relations.

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American dollar, Chilean peso and Argentinian peso
© rafastockbr/Shutterstock.com

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Multi-alignment and De-risking: The Global South Response to World Fragmentation