The global economy is going through major economic and geopolitical shifts. The balance of economic power between the established powers of the North and the emerging “new” ones of the South has changed, not only fostering tensions in the global governance structure that has characterized the post-World War II era – centered around the Bretton Woods institutions (the IMF and the World Bank), the GATT/WTO and the Security Council of the United Nations – but also leading to new alliances among emerging economies. The typical narrative for economic and geopolitical trends in the 21st century involves considerations about the impact of globalization, the role of disruptive technologies in changing the economic landscape, as well as the terms of international competition, and the growing economic relevance of emerging economies.