IBOV 177,216 ▲ 2.59% IPSA 10,977 ▼ 0.44% IPC MEX 66,643 ▲ 0.81% MERVAL 3,238,931 ▲ 1.14% COLCAP 2,297.24 ▲ 0.20% BVL PERÚ 56,194.27 ▲ 1.22% USD/BRL5.11▼ 0.21% USD/MXN17.48▼ 0.37% USD/CLP924.18▼ 0.38% USD/COP3,245▼ 2.93% USD/PEN3.39▼ 0.38% USD/ARS1,487▼ 0.03% USD/UYU40.22▲ 1.20% USD/PYG6,055▲ 1.53% USD/BOB10.14▲ 4.01% USD/DOP58.50▼ 0.09% USD/CRC448.82▲ 1.40% USD/GTQ7.63▲ 2.28% USD/HNL26.72▲ 1.50% USD/NIO36.62▲ 0.26% USD/VES707.92▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD156.98▲ 0.10% USD/TTD6.75▲ 1.32% EUR/BRL5.83▼ 1.00% BRENT 75.56 ▼ 0.97% WTI 71.08 ▼ 1.39% IRON ORE 161.91 — — COPPER 6.29 ▲ 1.17% GOLD 4,117 ▼ 0.33% SILVER 60.23 ▼ 0.25% SOY 1,193 ▲ 1.08% CORN 460.75 ▲ 7.71% WHEAT 640.00 ▲ 4.70% COFFEE 336.35 ▼ 5.77% SUGAR 14.84 ▼ 1.85% ORANGE JUICE 146.30 ▼ 2.40% COTTON 80.87 ▲ 6.18% COCOA 6,024 ▼ 4.52% BEEF 234.68 ▼ 0.24% CATTLE 354.08 ▼ 0.58% LITHIUM 72.41 ▼ 0.57% PETR4 39.53 ▲ 0.82% VALE3 74.47 ▲ 1.80% ITUB4 43.92 ▲ 3.12% BBDC4 18.71 ▲ 3.94% ABEV3 15.82 ▲ 0.64% BBAS3 20.58 ▲ 2.90% B3SA3 15.45 ▲ 4.46% WEGE3 46.63 ▲ 1.95% PRIO3 55.35 ▼ 0.47% SUZB3 41.56 ▲ 1.29% RENT3 40.78 ▲ 3.50% AZZA3 19.13 ▲ 3.63% CSAN3 4.03 ▲ 4.40% RAIZ4 0.36 ▼ 2.70% PCAR3 2.75 ▼ 0.36% GMAT3 3.99 ▲ 1.53% PSSA3 54.29 ▲ 1.76% CVCB3 1.25 — 0.00% POSI3 3.97 ▲ 3.12% SLCE3 14.00 ▲ 1.52% NATU3 8.61 ▲ 1.77% BRKM5 6.49 ▲ 2.04% RANI3 8.01 ▲ 1.91% CSNA3 5.17 ▲ 7.71% CMIN3 5.10 ▲ 5.59% USIM5 8.48 ▲ 1.56% GGBR4 22.83 ▲ 1.56% ENEV3 27.37 ▲ 4.47% CPFE3 47.54 ▲ 2.70% CMIG4 11.32 ▲ 2.17% EQTL3 40.77 ▲ 3.19% LREN3 14.79 ▲ 4.52% VIVT3 35.59 ▲ 3.16% RAIL3 14.04 ▲ 2.11% KLABIN 17.49 ▲ 0.52% RAIA DROGASIL 18.97 ▲ 4.63% RDOR3 35.98 ▲ 2.36% HAPV3 10.64 ▲ 5.66% FLRY3 16.33 ▲ 3.68% SMTO3 15.95 ▼ 0.62% UGPA3 30.58 ▲ 1.59% VBBR3 32.70 ▲ 1.87% BBSE3 40.01 ▲ 1.86% BPAC11 57.78 ▲ 3.77% CURY3 33.73 ▲ 3.15% AERI3 2.08 ▲ 0.97% VIVARA 23.45 ▲ 3.85% COMPASS 25.27 ▲ 2.39% VAMOS 3.05 ▲ 3.04% SANB11 27.35 ▲ 4.19% ASAI3 8.88 ▲ 4.96% SBSP3 31.00 ▲ 3.33% WALMEX 49.41 ▲ 0.80% GMEXICO 198.14 ▲ 1.43% FEMSA 223.29 ▲ 0.41% CEMEX 21.80 ▲ 0.41% GFNORTE 188.48 ▲ 1.69% BIMBO 56.28 ▲ 0.63% TELEVISA 9.61 ▲ 1.26% AMX 22.99 ▲ 1.55% GAP 410.97 ▼ 0.66% ASUR 286.32 ▲ 0.95% OMA 236.04 ▼ 0.82% KOF 182.55 ▲ 0.91% GRUMA 286.19 ▲ 1.38% KIMBER 38.34 ▼ 0.26% SQM-B 67,669 ▼ 2.07% COPEC 6,032 ▲ 0.19% BSANTANDER 78.28 ▲ 1.01% FALABELLA 5,867 ▲ 0.27% ENELAM 84.85 ▲ 0.82% CENCOSUD 2,023 ▼ 1.63% CMPC 1,115 ▲ 1.87% BANCO CHILE 188.10 ▲ 0.59% LATAM AIR 26.05 ▼ 1.33% YPF 74,200 ▼ 2.08% GGAL 8,190 ▲ 3.93% PAMPA 5,175 ▼ 0.58% TXAR 664.00 ▼ 0.08% ALUAR 964.00 ▼ 0.46% TGS 9,440 ▲ 1.40% CEPU 2,314 ▼ 0.04% MIRGOR 17,075 ▼ 0.73% COME 45.85 ▲ 0.95% LOMA NEGRA 3,525 ▲ 0.79% BYMA 309.50 ▼ 0.08% TELECOM ARG 4,153 ▲ 0.79% ECOPETROL 15.51 ▲ 0.78% BANCOLOMBIA 83.31 ▲ 2.94% GRUPO AVAL 5.09 ▲ 1.39% CREDICORP 400.29 ▲ 2.14% SOUTHERN COPPER 176.02 ▲ 0.91% BUENAVENTURA 30.07 ▲ 1.76% MERCADOLIBRE 1,874 ▲ 3.66% NUBANK 13.94 ▲ 1.94% XP 17.04 ▲ 3.81% PAGSEGURO 9.29 ▲ 3.23% STONE 11.24 ▲ 2.51% GLOBANT 30.05 ▼ 3.96% TECNOGLASS 44.17 ▲ 2.39% GAP AIRPORT 235.74 ▲ 0.54% ASUR 286.32 ▲ 0.95% OMA AIRPORT 107.98 ▼ 0.33% AMX ADR 26.24 ▲ 1.55% FEMSA ADR 127.86 ▲ 0.68% CEMEX ADR 12.54 ▲ 1.33% PETROBRAS ADR 17.18 ▲ 0.88% VALE ADR 14.56 ▲ 2.36% ITAU ADR 8.60 ▲ 3.86% SANTANDER BR 5.42 ▲ 5.35% AMBEV ADR 3.07 ▲ 0.99% CSN 1.02 ▲ 6.84% GERDAU 4.49 ▲ 1.70% LATAM ADR 56.51 ▼ 0.94% BTC 64,072 ▲ 1.39% ETH 1,796 ▲ 2.95% SOL 78.05 ▲ 0.01% XRP 1.10 ▲ 0.98% BNB 576.71 ▲ 1.45% ADA 0.17 ▲ 0.47% DOGE 0.07 ▲ 1.80% AVAX 6.75 ▲ 1.00% LINK 7.96 ▲ 2.91% DOT 0.88 ▲ 6.90% LTC 44.69 ▲ 2.11% BCH 248.74 ▲ 4.61% TRX 0.33 ▼ 0.39% XLM 0.19 ▲ 1.58% HBAR 0.07 ▲ 0.51% NEAR 1.90 ▼ 1.01% ATOM 1.58 ▲ 2.01% AAVE 94.96 ▲ 4.06% SELIC 14.25% EMBRAER 85.18 ▲ 1.57% EMBRAER ADR 66.82 ▲ 1.95% JBS 11.85 ▲ 0.98% JBS BDR 60.20 ▲ 0.25% MBRF3 15.76 ▲ 2.27% MBRFY 3.03 ▲ 1.00% INTER 5.89 ▲ 3.06% EGX 52,312 ▲ 0.54% USD/ZAR16.31▼ 0.11% USD/NGN1,376▼ 0.12% NIKKEI 68,558 ▲ 1.20% CSI300 4,781 ▼ 1.96% HSI 24,175 ▲ 0.60% NIFTY 24,207 ▲ 1.02% KOSPI 7,476 ▲ 2.52% JCI 5,924 ▲ 0.20% USD/JPY161.50▼ 0.54% USD/CNY6.76▼ 0.42% DAX 25,067 ▼ 0.20% CAC 8,339 ▲ 0.15% FTSE 10,497 ▲ 0.24% MIB 52,614 ▲ 0.44% IBEX 19,385 ▲ 0.32% STOXX 641.10 ▲ 0.04% EUR/USD 1.1434 — 0.00% GBP/USD1.34▲ 0.11% SPX 7,566 ▲ 0.30% DJI 52,628 ▲ 0.27% NDX 29,809 ▲ 0.28% RUT 2,974 ▼ 0.62% TSX 35,228 ▲ 0.08% VIX 15.27 ▼ 3.60% USD/CAD1.41▼ 0.31% US10Y 4.5610 ▲ 0.48% IBOV 177,216 ▲ 2.59% IPSA 10,977 ▼ 0.44% IPC MEX 66,643 ▲ 0.81% MERVAL 3,238,931 ▲ 1.14% COLCAP 2,297.24 ▲ 0.20% BVL PERÚ 56,194.27 ▲ 1.22% USD/BRL 5.11 ▼ 0.21% USD/MXN 17.48 ▼ 0.37% USD/CLP 924.18 ▼ 0.38% USD/COP 3,245 ▼ 2.93% USD/PEN 3.39 ▼ 0.38% USD/ARS 1,487 ▼ 0.03% USD/UYU 40.22 ▲ 1.20% USD/PYG 6,055 ▲ 1.53% USD/BOB 10.14 ▲ 4.01% USD/DOP 58.50 ▼ 0.09% USD/CRC 448.82 ▲ 1.40% USD/GTQ 7.63 ▲ 2.28% USD/HNL 26.72 ▲ 1.50% USD/NIO 36.62 ▲ 0.26% USD/VES 707.92 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 156.98 ▲ 0.10% USD/TTD 6.75 ▲ 1.32% EUR/BRL 5.83 ▼ 1.00% BRENT 75.56 ▼ 0.97% WTI 71.08 ▼ 1.39% IRON ORE 161.91 — — COPPER 6.29 ▲ 1.17% GOLD 4,117 ▼ 0.33% SILVER 60.23 ▼ 0.25% SOY 1,193 ▲ 1.08% CORN 460.75 ▲ 7.71% WHEAT 640.00 ▲ 4.70% COFFEE 336.35 ▼ 5.77% SUGAR 14.84 ▼ 1.85% ORANGE JUICE 146.30 ▼ 2.40% COTTON 80.87 ▲ 6.18% COCOA 6,024 ▼ 4.52% BEEF 234.68 ▼ 0.24% CATTLE 354.08 ▼ 0.58% LITHIUM 72.41 ▼ 0.57% PETR4 39.53 ▲ 0.82% VALE3 74.47 ▲ 1.80% ITUB4 43.92 ▲ 3.12% BBDC4 18.71 ▲ 3.94% ABEV3 15.82 ▲ 0.64% BBAS3 20.58 ▲ 2.90% B3SA3 15.45 ▲ 4.46% WEGE3 46.63 ▲ 1.95% PRIO3 55.35 ▼ 0.47% SUZB3 41.56 ▲ 1.29% RENT3 40.78 ▲ 3.50% AZZA3 19.13 ▲ 3.63% CSAN3 4.03 ▲ 4.40% RAIZ4 0.36 ▼ 2.70% PCAR3 2.75 ▼ 0.36% GMAT3 3.99 ▲ 1.53% PSSA3 54.29 ▲ 1.76% CVCB3 1.25 — 0.00% POSI3 3.97 ▲ 3.12% SLCE3 14.00 ▲ 1.52% NATU3 8.61 ▲ 1.77% BRKM5 6.49 ▲ 2.04% RANI3 8.01 ▲ 1.91% CSNA3 5.17 ▲ 7.71% CMIN3 5.10 ▲ 5.59% USIM5 8.48 ▲ 1.56% GGBR4 22.83 ▲ 1.56% ENEV3 27.37 ▲ 4.47% CPFE3 47.54 ▲ 2.70% CMIG4 11.32 ▲ 2.17% EQTL3 40.77 ▲ 3.19% LREN3 14.79 ▲ 4.52% VIVT3 35.59 ▲ 3.16% RAIL3 14.04 ▲ 2.11% KLABIN 17.49 ▲ 0.52% RAIA DROGASIL 18.97 ▲ 4.63% RDOR3 35.98 ▲ 2.36% HAPV3 10.64 ▲ 5.66% FLRY3 16.33 ▲ 3.68% SMTO3 15.95 ▼ 0.62% UGPA3 30.58 ▲ 1.59% VBBR3 32.70 ▲ 1.87% BBSE3 40.01 ▲ 1.86% BPAC11 57.78 ▲ 3.77% CURY3 33.73 ▲ 3.15% AERI3 2.08 ▲ 0.97% VIVARA 23.45 ▲ 3.85% COMPASS 25.27 ▲ 2.39% VAMOS 3.05 ▲ 3.04% SANB11 27.35 ▲ 4.19% ASAI3 8.88 ▲ 4.96% SBSP3 31.00 ▲ 3.33% WALMEX 49.41 ▲ 0.80% GMEXICO 198.14 ▲ 1.43% FEMSA 223.29 ▲ 0.41% CEMEX 21.80 ▲ 0.41% GFNORTE 188.48 ▲ 1.69% BIMBO 56.28 ▲ 0.63% TELEVISA 9.61 ▲ 1.26% AMX 22.99 ▲ 1.55% GAP 410.97 ▼ 0.66% ASUR 286.32 ▲ 0.95% OMA 236.04 ▼ 0.82% KOF 182.55 ▲ 0.91% GRUMA 286.19 ▲ 1.38% KIMBER 38.34 ▼ 0.26% SQM-B 67,669 ▼ 2.07% COPEC 6,032 ▲ 0.19% BSANTANDER 78.28 ▲ 1.01% FALABELLA 5,867 ▲ 0.27% ENELAM 84.85 ▲ 0.82% CENCOSUD 2,023 ▼ 1.63% CMPC 1,115 ▲ 1.87% BANCO CHILE 188.10 ▲ 0.59% LATAM AIR 26.05 ▼ 1.33% YPF 74,200 ▼ 2.08% GGAL 8,190 ▲ 3.93% PAMPA 5,175 ▼ 0.58% TXAR 664.00 ▼ 0.08% ALUAR 964.00 ▼ 0.46% TGS 9,440 ▲ 1.40% CEPU 2,314 ▼ 0.04% MIRGOR 17,075 ▼ 0.73% COME 45.85 ▲ 0.95% LOMA NEGRA 3,525 ▲ 0.79% BYMA 309.50 ▼ 0.08% TELECOM ARG 4,153 ▲ 0.79% ECOPETROL 15.51 ▲ 0.78% BANCOLOMBIA 83.31 ▲ 2.94% GRUPO AVAL 5.09 ▲ 1.39% CREDICORP 400.29 ▲ 2.14% SOUTHERN COPPER 176.02 ▲ 0.91% BUENAVENTURA 30.07 ▲ 1.76% MERCADOLIBRE 1,874 ▲ 3.66% NUBANK 13.94 ▲ 1.94% XP 17.04 ▲ 3.81% PAGSEGURO 9.29 ▲ 3.23% STONE 11.24 ▲ 2.51% GLOBANT 30.05 ▼ 3.96% TECNOGLASS 44.17 ▲ 2.39% GAP AIRPORT 235.74 ▲ 0.54% ASUR 286.32 ▲ 0.95% OMA AIRPORT 107.98 ▼ 0.33% AMX ADR 26.24 ▲ 1.55% FEMSA ADR 127.86 ▲ 0.68% CEMEX ADR 12.54 ▲ 1.33% PETROBRAS ADR 17.18 ▲ 0.88% VALE ADR 14.56 ▲ 2.36% ITAU ADR 8.60 ▲ 3.86% SANTANDER BR 5.42 ▲ 5.35% AMBEV ADR 3.07 ▲ 0.99% CSN 1.02 ▲ 6.84% GERDAU 4.49 ▲ 1.70% LATAM ADR 56.51 ▼ 0.94% BTC 64,072 ▲ 1.39% ETH 1,796 ▲ 2.95% SOL 78.05 ▲ 0.01% XRP 1.10 ▲ 0.98% BNB 576.71 ▲ 1.45% ADA 0.17 ▲ 0.47% DOGE 0.07 ▲ 1.80% AVAX 6.75 ▲ 1.00% LINK 7.96 ▲ 2.91% DOT 0.88 ▲ 6.90% LTC 44.69 ▲ 2.11% BCH 248.74 ▲ 4.61% TRX 0.33 ▼ 0.39% XLM 0.19 ▲ 1.58% HBAR 0.07 ▲ 0.51% NEAR 1.90 ▼ 1.01% ATOM 1.58 ▲ 2.01% AAVE 94.96 ▲ 4.06% SELIC 14.25% EMBRAER 85.18 ▲ 1.57% EMBRAER ADR 66.82 ▲ 1.95% JBS 11.85 ▲ 0.98% JBS BDR 60.20 ▲ 0.25% MBRF3 15.76 ▲ 2.27% MBRFY 3.03 ▲ 1.00% INTER 5.89 ▲ 3.06% EGX 52,312 ▲ 0.54% USD/ZAR 16.31 ▲ 0.01% USD/NGN 1,376 ▲ 0.08% NIKKEI 68,558 ▲ 1.20% CSI300 4,781 ▼ 1.96% HSI 24,175 ▲ 0.60% NIFTY 24,207 ▲ 1.02% KOSPI 7,476 ▲ 2.52% JCI 5,924 ▲ 0.20% USD/JPY 161.50 ▼ 0.52% USD/CNY 6.7643 ▼ 0.40% DAX 25,067 ▼ 0.20% CAC 8,339 ▲ 0.15% FTSE 10,497 ▲ 0.24% MIB 52,614 ▲ 0.44% IBEX 19,385 ▲ 0.32% STOXX 641.10 ▲ 0.04% EUR/USD 1.1434 — 0.00% GBP/USD 1.3411 ▲ 0.05% SPX 7,566 ▲ 0.30% DJI 52,628 ▲ 0.27% NDX 29,809 ▲ 0.28% RUT 2,974 ▼ 0.62% TSX 35,228 ▲ 0.08% VIX 15.27 ▼ 3.60% USD/CAD 1.4124 ▼ 0.30% US10Y 4.5610 ▲ 0.48%
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Editorial: Global South on the rise – changing power dynamics and the West’s wake-up call

By · August 5, 2023 · 2 min read

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(Editorial) As the power dynamics on the world stage continue to evolve, the focus is increasingly shifting toward the Global South.

This term refers to the emerging and developing economies that, to date, have not explicitly aligned with any major power blocs.

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A case in point is the upcoming BRICS summit, bringing together the leaders of Brazil, Russia, India, China, and South Africa.

This summit can potentially cast light on the future trajectory of our increasingly interconnected world.

According to a high-ranking South African official, 22 nations have applied for BRICS membership, with an almost equal number expressing an interest in joining.

The roster of potential new members includes many major Global South nations, suggesting a growing collective drive for representation and change.

However, this anticipated expansion of BRICS membership should ring alarm bells in the West.

Why? Because it signals a shift in power and growing discontent with the status quo.

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Our global community is already fragmented over Russia’s invasion of Ukraine, with clear divisions into Western, China-Russia, and neutral camps.

Yet, an Economist Intelligence Unit report suggests a worrisome geopolitical pivot.

Several Global South nations are aligning more with Russia, a move that threatens to erode our current world order even further.

The reasons behind this shift were brought to light at a recent conference in Kigali, Rwanda.

Participants highlighted three primary grievances against Western countries.

First, there’s a widespread belief that the current global system, largely led by the U.S. and Europe, fails to reflect the perspectives of the Global South sufficiently.

Second, the economic stability of these countries is under threat due to the rise in energy and food prices as a result of sanctions against Russia.

Lastly, these nations still resent past Western colonial rule, which they argue hampers their growth and development.

In response to these grievances, both Russia and China have intensified their anti-colonialism campaigns.

As easy as it might be for Western nations to dismiss these efforts as mere political maneuvering, doing so could have profound implications.

Ignoring these campaigns could fuel further discontent among the Global South nations, potentially accelerating their shift away from the West.

This is a critical wake-up call for Western nations. The world is no longer a stage where a few major powers can dictate the terms.

The Global South nations, increasingly unhappy with the Western-dominated status quo, are finding new alliances and alternative pathways.

The risk of Western isolation is real and growing. The key is engagement, not domination.

Western nations need to engage more effectively with the Global South nations, taking their grievances seriously and working together to build relationships that benefit all parties.

The alternative – maintaining the status quo and ignoring the voices of the Global South – may lead to a world order that’s increasingly unfavorable to the West.

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