Over the past two decades, economic strength, trade flows, technological leadership and even consumer demand have been moving steadily from west to east. This transformation is redrawing economic maps. It is also raising urgent questions about co-operation, competition and inclusion in a multipolar world. Lecturer in economics and finance Arno van Niekerk answers questions about these issues, which he explores in a new book, West to East: A New Global Economy in the Making?
What indicates a shift from west to east?
Brics countries, largely driven by China and India, overtook the G7 countries in their share of global GDP in 2018. As Figure 1 shows, the Brics contribution has grown from 32.33% of global GDP to 35.43% in 2024 (after being at 21.37% in 2000).
