The world economy is in a state of flux. Over the past few years, we have witnessed profound disruptions—from supply chain breakdowns and geopolitical fragmentation to climate-induced shocks and energy insecurity. Economic growth in some of the world's traditional centres, from Europe to North America, has slowed amid high inflation, declining trade volumes, and increasing political volatility.
Yet, even as old certainties give way, a new economic geography is taking shape. Globalisation is not ending—it is evolving. No longer dominated by a small group of major economies, it is becoming more regionalised, more digital, and more diversified. This shift is creating space for a broader range of countries to participate actively in shaping global growth and trade. Among them are the world's emerging middle powers—agile, reform-oriented states that are increasingly influential in shaping regional and global economic patterns.
