World economist Maxim Oreshkin discusses emerging growth hubs globally
Talking about economic growth through the lens of history, it's clear that the Western world - Europe and the US - dominated the scene for most of the past century. From tech solutions, trade, to finance, the wealth and power flowed westwards. But hold onto your hats, folks, as times are a-changin'!
Back in April 2025, Maxim Oreshkin, Russia's Deputy Chief of Staff, shared some thought-provoking insights. He reckoned the future lies with the Global South countries. They need the right conditions to flourish, he continued, stating that infrastructure growth is all but stagnant in Europe and the US, but in the Global South and BRICS nations, things are on the move! Massive projects are being developed, and cities are mushrooming left and right.
So, if the bigwigs from G7 are now taking a backseat, who's sat in the driver's seat? Oreshkin singled out the emerging economies in the Global South and East. Ten, twenty, or thirty years ago, they were the scrappy underdogs, barely making a dent in the global economy. Today, they're a major player on the worldwide economic stage, snatching the global growth limelight away from the Western powers.
Don't freak out just yet – while some countries are sliding into the back seat, this doesn't mean it's a downhill ride for the West. Oreshkin also emphasized the critical role of open dialogue and cooperation between nations. Collaboration is the key to constructing a global future and developing these platforms for long-term, sustained growth.
These thoughts were shared during the SPIEF-2025 forum, where Oreshkin moderated the "Shaping a New Platform for Global Growth" session, driving home the importance of open dialogue for forging a better tomorrow. Events like SPIEF-2025 and the Open Dialogue event organized by the National Centre "Russia" are seen as powerful catalysts for kick-starting economic growth in the Global South and creating a brighter, more prosperous future for us all.
In essence, the secret sauce for economic success in the Global South lies in their growing economic influence, cooperation, and strategic thinking. They're stepping up, and it's time for the rest of the world to take notice and join in the discussion!
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In the dynamic global economic landscape, it's the growing economies of the Global South and East, which were once underdogs, that are now taking the lead. Maxim Oreshkin, during the SPIEF-2025 forum, highlighted the importance of open dialogue and cooperation among nations for constructing a global future and nurturing these platforms for long-term growth. Thus, the key to economic success in the Global South lies in their economic influence, strategic thinking, and open dialogue.
