Thursday’s address by UN Secretary-General Antonio Guterres spotlighted a seismic shift in global economics, pressing for urgent reforms in the Security Council and international finance to keep pace with rising powers.
Daily, advanced economies lose ground in global GDP rankings as emerging ones expand rapidly, Guterres noted. ‘South-South trade now outstrips North-North flows,’ he said, signaling the obsolescence of post-WWII frameworks.
The 1945 blueprints, once revolutionary, falter against modern woes, he warned. Reforms must update both UNSC membership and financial institutions’ governance to reflect new realities.
UN statistics underscore the divide: 4.2% growth in developing regions last year dwarfed 2.9% in the developed world. India’s 7.4% surge cements its claim for permanent Council status amid its economic ascent.
In his swan-song annual General Assembly speech ahead of term’s end, Guterres balanced crisis laments with optimism. The UN has infiltrated once-inaccessible arenas, he celebrated.
Veering from naming US or Russian veto tactics that hobble the Council, he targeted systemic saboteurs: ‘Forces are eroding global cooperation’s foundations, challenging multilateralism’s endurance.’ Financial strains from delinquent payers loomed large, unspoken.
Defiant, Guterres pledged: ‘We won’t surrender.’ This clarion call reframes global governance debates, positioning economic momentum from the Global South as the catalyst for inclusive, effective institutions in an interconnected world.