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China Reports on the ‘Southward Shift of the Economic Base’

March 14, 2024 (EIRNS)—The report issued by the China Academy provides data familiar to many readers of EIR on the dramatic shift in world production, from the former colonial powers to the Global South. Some of their data:

• China is the world’s leading industrial country, with a 25.7% share of value added, while the U.S. holds only a 9.7% share. The Global South has a 69.4% share, while the Global North has a 30.6% share. BRICS10 has a 44% share and exceeds the G7.

• In 1993, the Global North accounted for 57.2% of the global GDP (PPP), while the Global South accounted for just 42.8%. Thirty years later, these proportions have definitively inverted: the share of the Global South has reached 59.4%, with the Global North holding at 40.6%.

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