A new international economic order for the twenty-first century: an agenda for industrial and trade policies from the Global South

What the paper says

Amid growing geopolitical tensions, ecological transitions, and the resurgence of industrial policy in the Global North, developing countries face renewed constraints on their ability to design and implement strategies for structural transformation. While advanced economies increasingly deploy subsidies, trade restrictions, and technological controls to bolster strategic sectors, the Global South remains bound by a multilateral trade and investment architecture that narrows its policy space. This article revisits the intellectual legacy of the New International Economic Order to propose a renewed international agenda centered on restoring industrial policy autonomy in the South. Drawing on the developmentalist traditions, the article argues that reclaiming policy space is essential for enabling late industrialization, fostering technological learning, and achieving climate-compatible development. Key proposals include revising trade rules to allow differentiated treatment, promoting regional industrial cooperation, and creating multilateral frameworks for technology transfer and data governance. The paper contends that advancing a green productive transformation in developing countries requires confronting existing asymmetries in global governance and building coalitions capable of reshaping the normative foundations of the international economic order. In doing so, it offers a framework for reimagining industrial development as both a sovereign right and a global necessity.