Vol. 21 No. 1 (2026): A Geoeconomic Global South

Scholars increasingly use "geoeconomics” to describe great powers' amplifying reliance on economic statecraft (Baldwin, 1985) to advance their geopolitical ambitions and build resilience against external coercion. The once dominant belief that globalisation is positive-sum and mutually beneficial has given way to fears of being subjected to – as well as ambitions to subject other states to – weaponised interdependence (Farrell & Newman, 2019). In this context, scholars and commentators often picture low- and middle-income countries (LMICs) in the Global South as battlegrounds for great power competition. Yet could “a return to geo-economics” (Lind, 2019) give the Global South new leverage as great powers race to secure access to critical natural resources and seek new economic partnerships?