Multipolarity and the New South–South relations: myth vs. reality

A consensus is emerging among academics regarding the rise of a multipolar world order, defined by the diminishing hegemony of Western powers and the growing power and influence of nations in the Global South. However, consensus on the extent of multipolarity, its metrics, and its implications remains elusive. In this paper, we examine the ‘New South–South relations’ to highlight the growing significance of trade, finance, and cooperation among Southern nations, driven by neoliberal globalization and the rise of emerging powers like China. This phenomenon has created both opportunities and disparities within the Global South, intensifying debates on neo-colonialism, dependency, and development. Using the ‘semi-periphery’ framework, the article examines these shifts, exploring trends in trade, finance, and security, alongside power competition between the US, China, and middle powers, ultimately questioning the stability of the evolving global hierarchy and the limits of the rise of the South.