South-South cooperation and global rebalancing: the new realities

Abstract

SouthSouth cooperation has a strategic role to play in the rebalancing of the global economy. Increased reliance on the collective resources of the South, through diversified and reinforced processes of political, economic, and social cooperation will be of vital importance in the response of the developing countries to the present challenges posed by the global economic crisis. By expanding the flow of finance, trade, technology and skills within the South, through stronger links which take advantage of complementary assets, SouthSouth cooperation can fortify the development of all countries of the south. This paper thus aims to assess the prospects and challenges of the partnership particularly for the developing countries.