Opinion | The rise of a Beijing-led ‘Global South Consensus’
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As the Global South seeks a better development model and China looks for alternatives to mature markets, a match made out of mutual need is emerging.

In 2004, Joshua Cooper Ramo, now co-CEO of Kissinger Associates, coined the term “Beijing Consensus” as an alternative to the Washington Consensus, the neoliberal framework of economic policies devised in the 1980s by the International Monetary Fund, World Bank and US Treasury. China had just joined the World Trade Organization and, within the country, there was considerable scepticism that a Beijing Consensus existed. Come 2007, and as the global financial crisis broke out – first with the US…

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