Navigating the Perfect Storm: Macroeconomic Volatility, Decolonial Shifts, and the Resurgence of the Global South
This paper explores the structural roots of global macroeconomic volatility and the parallel crisis of legitimacy facing multilateral governance. It argues that the current fragmentation of global economic relations—visible in protectionist policies, trade disruptions, and geopolitical rivalries—reveals a deeper rupture in the post–World War II order. Far from being an exception, the turbulence of the Trump era exposed long-standing asymmetries and the limits of a system grounded in Northern dominance and neoliberal orthodoxy. Through an integrated analysis of trade, finance, and the erosion of multilateral trust, the study situates today’s disorder within the broader exhaustion of neoliberalism, as Deleuze put it, and its frameworks of cooperation. For the global South, these crises represent not something new but an intensified expression of structural vulnerabilities: volatile exchange rates, debt distress, deep inequalities, and climate colonialism.
In response, Southern actors are building new counter-architectures of finance and the paper highlights how Southern agency is redefining the boundaries of global governance, proposing that volatility itself can become a generative force for transformation. It calls for an epistemic and ethical shift—towards feminist principles of care and planetary responsibility, to build a pluriversal multilateralism grounded in Southern perspectives.
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