Global South, Capitalism and Sovereignty

Abstract

Understanding the regions historically shaped by colonialism, imperialism and uneven development - parts of Asia, Africa, Latin America, middle east and the Caribbean, is inextricably linked with “Capitalism”. This essay will explore the nature of capitalism and identify its correlation with global south and its political and economic development. The primary argument put forward in this essay is – it is in the nature of capitalism to promote colonization, imperialism, and uneven development. It will further argue that the era of capitalism is coming to an end along with the era of sovereignty, without a known economic and political system to replace it. Hence, understanding these historical shift coinciding with the end of a period in history will remain crucial for the global south to chart their economic, political and foreign policy for the future.