As global trade dynamics grow increasingly volatile, developing countries are stepping up to chart a collaborative path forward. Delegates from over 30 nations and international organizations gathered in Geneva this week, co-hosted by China's UN mission and the South Center, to address how rising protectionism—especially from the U.S.—is impacting their economies. 🌐💼
‘Reciprocal Tariffs’ or Roadblocks?
Chen Xu, China’s permanent representative to the UN in Geneva, didn’t hold back: U.S. 'reciprocal tariffs' are 'unilateral and protectionist,' he said, stifling growth in the Global South and destabilizing the world economy. Meanwhile, China reaffirmed its commitment to 'opening up and win-win cooperation,' pledging to strengthen ties with fellow developing nations. 🤝📉
The Ripple Effect on Growth
Wu Hailong of the South Center highlighted how U.S. tariffs have disrupted supply chains, slowed trade, and rattled financial markets. 'Developing countries bear the brunt,' he noted, urging deeper global teamwork. 🌍💡
South-South Synergy on the Rise
The consensus? Strengthen trade cooperation among developing countries to push sustainable development goals outlined in the UN’s 2030 Agenda. With the South Center now boasting 55 member states, this coalition is positioning itself as a powerhouse for equitable growth. 🚀✨
Will this spark a new era of multilateralism? One thing’s clear: The Global South isn’t waiting for permission to rewrite the rules. 🔥🌏
