South-South Trade and Finance in the Twenty-First Century : Rise of the South or a Second Great Divergence
The last two-three decades have seen a dramatic rise in South-South economic relations, yet no book exists that systematically examines these changes in the global economy. This work directly engages with the ‘new developmentalism’ literature that has challenged the neoliberal orthodoxy and its policy approach, which focuses on liberalization, privatization, and deregulation. It also engages with literature by examining whether the increase in South–South trade facilitates or inhibits the possibilities for developmentalist economic policy in developing countries. The book shows concrete and positive results from South–South trade particularly related to industrial development and also documents how South–South trade is dominated by large developing countries and that South–South trade liberalization may be counterproductive.