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In recent years, it has become apparent that South-South economic relations are increasing, and will continue to do so. There will be more trade agreements and more trade, more economic alliances and more political alliances with economic goals, more investment flows and an increasing acknowledgement that the Global South has more to offer than it has in the past. These new economic relations have great potential, both for harm and for good. In the absence of directed policies and intentional actors, imbalances of power and growing gaps in development will persist. With the right policies in place, however, these relationships could forge a new global order with greater economic and political equality. Covering a wide range of topics, including regional trade integration in Africa, the environmental impact of increased South-South trade, the changing patterns of South-South investment, and the effect of conflict on trade in South Asia, this ground-breaking volume presents an analysis of South-South economic relations, and how they might impact and be impacted by the rest of the world

China and India's spectacular economic rise over the last two decades has accelerated their trade and investment flows with the Middle East and North Africa (MENA), particularly with the oil-producing countries. And while these flows are still small, China and India's presence in the region is on the rise. This report focuses on the following questions: what have been evolution and the impact of MENA's trade and investment relations with China and India? what actions can be taken to maximize the benefits from these relations and to enhance MENA's international integration? The main findings indicate that the region as a whole has benefited from the rise of China and India in terms of better terms of trade, significant increases in oil and gas exports, and cheaper imports. However, producers of industrial goods have been negatively-and in a few cases severely-affected by competition with the two Asian countries in both third and domestic markets. While China and India are investing more in MENA, they are contributing very little to job creation or to the transfer and diffusion of technology. Faster growth in the two Asian countries-and the associated higher demand for energy-will increase revenues from oil and the difficult choices associated with their management. For the labor-abundant, non oil-producing countries, competition with China and India will increase. But the lack of competitive manufacturing industries and services, the insufficient attention given in the past to building technological capabilities and promoting openness and entrepreneurship are constraining their ability to respond to competition. They need to accelerate productivity to tackle unemployment, especially among youth. This may require the broader institutional changes seen in China and India-suggesting the importance of a pragmatic reform agenda that can accelerate productivity, trade, and investment in the region.

In recent years, the BRICS economies have attracted significant amounts of foreign direct investment (FDI). These FDI inflows has helped fuel their economic growth rates, which leads one to predict that they will continue to outpace the G-7 economies in the near future. Thus, the aim of this study is to investigate the nature of the relationship between FDI and economic growth in BRICS countries from 1990 to 2020, using the Panel Threshold Autoregressive (PTAR) and Panel Smooth Transition Autoregressive (PSTAR) models. The study reveals that there is a non-linear relationship between FDI and economic growth, with the presence of thresholds equal to − 1.294 (1.42% of GDP) and − 1.283 (1.43% of GDP), respectively. Furthermore, the findings indicate that trade, domestic investment, and human capital have a positive impact on economic growth above these estimated thresholds more than below which confirm that more attracting FDI represents an important factor for these countries to improve economic growth. The study’s findings have significant implications for policymakers in the BRICS countries, particularly in response to the global challenges facing these economies. Thus, in order to promote economic growth and development, they should adopt a liberal strategy that encourages FDI. This strategy may involve creating an enabling environment for FDI by implementing policies that enhance the ease of doing business, improving the quality of infrastructure, and enhancing the legal and regulatory framework.

In TheEffects of Globalization in Latin America, Africa, and Asia, Kema Irogbeargues that the forces of globalization, which include the IMF/World Bank, WTO, and Western media technology, are subordinated to the interests of multinational corporations under the tutelage of a lone superpower in strangling the development efforts of poor countries.

Why were some countries able to build \"developmental states\" in the decades after World War II while others were not? Through a richly detailed examination of India's experience,Locked in Placeargues that the critical factor was the reaction of domestic capitalists to the state-building project. During the 1950s and 1960s, India launched an extremely ambitious and highly regarded program of state-led development. But it soon became clear that the Indian state lacked the institutional capacity to carry out rapid industrialization. Drawing on newly available archival sources, Vivek Chibber mounts a forceful challenge to conventional arguments by showing that the insufficient state capacity stemmed mainly from Indian industrialists' massive campaign, in the years after Independence, against a strong developmental state. Chibber contrasts India's experience with the success of a similar program of state-building in South Korea, where political elites managed to harness domestic capitalists to their agenda. He then develops a theory of the structural conditions that can account for the different reactions of Indian and Korean capitalists as rational responses to the distinct development models adopted in each country. Provocative and marked by clarity of prose, this book is also the first historical study of India's post-colonial industrial strategy. Emphasizing the central role of capital in the state-building process, and restoring class analysis to the core of the political economy of development,Locked in Placeis an innovative work of theoretical power that will interest development specialists, political scientists, and historians of the subcontinent.

Emerging multinational corporations are grown-up from environments where institutional quality (IQ) is generally poor and market mechanisms are inefficient. Having experience at home, firms from emerging markets have transformed institutional disadvantages into advantages, especially through investing in developing countries. In terms of investing abroad, is the host country's institutional quality a point of concern for emerging multinational corporations? Despite the economic benefits of well-organized institutions, several studies empirically tested the role of institutional quality on foreign direct investment (FDI) from emerging markets to provide inconclusive results. This study conducted a meta-analysis and empirical examination of the IQ-FDI nexus from five emerging markets, namely Brazil, Russia, India, China, and South Africa, collectively referred to as BRICS countries. We found that emerging multinational corporations invested in risky markets where institutional quality is generally modest. Our results suggest that state-owned enterprises persuasively invested in Africa for natural resources when they evaluate a positive and significant effect size of IQ on FDI. We also found that collected estimates contain genuine evidence concerning the effect of a host country’s institutional framework on FDI from BRICS countries.

This work describes why expanding trade and investment is vital for this region. The greatest economic challenge is to create enough jobs for its rapidly growing labor force, which is increasingly young and educated, to ward off threats to social and political stability inherent in high unemployment rates. This effort requires higher, and more sustainable, economic growth than has been achieved in the past two decades. Expanding trade and private investment offers the best hope. The potential is enormous given the region's human resources, skills, location, history, and opportunities. The book analyzes why the region has yet to tap fully into the rich stream of global commerce and investment--and the measures needed to do so, including improvements in the domestic investment climate and reforms in the policies of the region's trading partners. Its findings will appeal to policymakers in the region, the private sector and civil society, trade specialists, donors and partners, and anyone with an interest in the history and prospects of the Middle East and North Africa.

As Malaysia's economy grows and flourishes, strong new links are being forged with other developing countries in the region and beyond. This book traces the ways in which age-old organizational, political, religious and trade networks between Nusantara, the Malay World, and Central Asia, East Africa and the Middle East have changed in recent years. The book argues that these old links are being revived by new forms of globalization, modernization and knowledge transfer that are developing and implementing non-western models of governance, often in direct reference to Islam. The book goes on to explain how, as Malaysia develops new links with Indian Ocean countries, many of them Muslim countries, a new style trading network is being formed, a network with Islamic characteristics, which echoes Indian Ocean Islamic trading networks of earlier times. Interspersed with interesting methodological insights into the latest network, transnational and spatial theories, the book provides detailed case studies of Malaysia's and Southeast Asia's trade and numerous other links with Indonesia, Egypt, Zanzibar, Comoros and Central Asia, and concludes by assessing how Malaysia's and ASEAN's new style network is likely to develop and influence wider global networks. Written with a depth of knowledge reflective of the author's many years of research throughout Asia, this book gives a real insight into how Malaysia's mentalities, traditions and ways of thinking are being applied to its interactions with its immediate neighbours and the wider world.

What happens to a country when its skilled workers emigrate? The first book to examine the complex economic, social, and political effects of emigration on India, Diaspora, Development, and Democracy provides a conceptual framework for understanding the repercussions of international migration on migrants' home countries.

Since the 1980s there has been a steady shift from West to East in the international system, economically, politically and culturally. Emerging markets in Asia have moved up the value chain of industrial production processes, while the share of Western industrialized countries in global gross domestic product has declined. Countries such as China and India are asserting themselves in security matters and seeking new avenues for investment flows and development co-operation. China’s expected shift from export-led growth to domestic consumption might further change patterns of trade and capital flows, and it is an open debate whether the growth dynamics of India might outstrip those of China. While the rise of China and other Asian powers has been studied extensively, much less work has been done on how Africa and Latin America position themselves in this process. What will the role be of Africa and Latin America in the ‘Asian Century’ and associated reconfigurations of global value chains? Will these regions be able to assert themselves and find a voice of their own? Will they manage to develop industries of their own and diversify trade relations? Will they launch new ways of regional south-south co-operation? What is the role of migrant communities and cultural exchange? Do Western and Asian approaches to these regions differ (Washington vs. Beijing consensus)? This book brings together renowned academics from Africa, Latin America, Europe and the USA, who bring refreshing perspectives on an under-researched topic, ranging from a conceptualization of the issue within new theoretical approaches, to unique case studies based on field work. Framing the Topic: Introduction - Karim El Aynaoui, Eckart Woertz; The Emerging Powers vs. ‘Africa Rising’: Reconfiguration or Re-escalation of Dependency? - Ian Taylor; Intensified Economic Ties between Latin America and Asia: Opportunities and Challenges - Osvaldo Kacef; Strategic Issues and the Interests of Outside Powers: Delivering Difference? Four Neglected Issues in China’s Aid to Africa - Xuefei Shi, Min Chen and Paul Hoebink; India’s ‘Modi-fied’ Africa Policy: A Non-China-Centric Advance - Jagannath Panda; Security Mechanisms in the Global South: Asia, South America and Africa in Comparison - Sergio Aguilar; Economic Co-operation and Urbanization: The BRICS’ New Development Bank: a China-led Challenge to Western Hegemony? - Gabrielle W. Cusson and Ludmila A. Culpi; Circulating Asian Urbanisms: An Analysis of Policy and Media Discourse in Africa and Latin America - Femke van Noorloos and Maggi Leung; Petroleum Challenges for Latin America and Africa in Light of the Asian Expansion - Igor Hernandez and Diego Guererro; African Case Studies: The Challenges of Being an Emerging Donor: A Case Study of Brazil’s South-South Co-operation with Ghana - Frank Mattheis and Christina Stolte; China, India and East Africa: The Indian Ocean in the 21st Century - Glenn Ojeda; Latin American Case Studies: Chinese Financing of Latin American Development: Competition or Complementarity with Traditional Donors? - Mario Esteban and Aitor Pérez; Overseas Chinese Migration in Mercosur: The Principal Movements and Projections for the 21st Century - Laura Lucía Bogado Bordazar; Between China and Taiwan: Nicaragua and the Inter-Oceanic Canal - Carmen Grau Vila