In the evolving geopolitical landscape, the Global South faces significant challenges as the dynamics of power shift in a post-Cold War world. Jomo Kwame Sundaram argues that the end of the first Cold War was perceived as a triumph for the United States, leading to a unipolar world dominated by American interests. However, this new geopolitics has undermined both peace and development, particularly for developing countries [50548c1b].
The relevance of NATO has declined in recent years, yet the alliance was revitalized following Russia's 2022 invasion of Ukraine, which reinforced its strategic importance [50548c1b]. As tensions rise, developing nations are increasingly pressured to align themselves with either the US or its rivals, complicating their diplomatic stances and economic strategies [50548c1b].
Amidst these geopolitical shifts, the official development assistance (ODA) provided by wealthy nations remains alarmingly low, currently at just 0.3% of their national incomes, falling short of the promised 0.7% [50548c1b]. This shortfall in aid is exacerbated by a significant increase in military spending, which overshadows funding for sustainable development initiatives [50548c1b].
As the US and its allies navigate this complex landscape, the implications for the Global South are profound. The need for a balanced approach that prioritizes development alongside security is more critical than ever, as nations grapple with the pressures of a new Cold War that threatens their sovereignty and progress [50548c1b].