At this year's Boao Forum for Asia on the tropical island of Hainan, there was one clear message: the global South is playing an increasingly important role in economics and politics.
The countries of the Global South now account for over 40 % of global GDP and contribute to 80 % of global growth. Yet they face unequal status in international institutions and lack access to finance for sustainable development.
"The international financial architecture must be reformed," he said Wang Xiaojun from the United Nations Office for South-South Cooperation. He stressed the need to strengthen the voice of developing countries on the global stage.
State representatives and experts agree that initiatives such as BRICS or Belt and Road are an important step towards balancing global forces. Investments in infrastructure generate direct economic benefits and increase the bargaining power of these countries.
"The countries of the Global South have the will and the potential to succeed - but they need a fairer international system," was the message for the future at this year's Forum.
