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World being remade in image of developing world: UK scholar

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World being remade in image of developing world: UK scholar

2025-09-06 17:45 Last Updated At:19:37

The world is being remade in the image of the developing world, UK scholar Martin Jacques said.

In an interview with China Radio International (CRI), Jacques, former senior fellow at the Department of Politics and International Studies at Cambridge University, said that to support developing countries to enhance their representation and voice is the direction of UN reform.

"The great turning point, if you like, in the 20th century, was from the end of the Second World War, the process of colonial liberation. If you look at the IMF founding conference, there were very, very, very few nations present, because most countries in the world, as we see it now, were actually colonies. So there was a huge transformation where more than half the world's population gained independence. In the mid 1970s, the developing world accounted for only one third of global GDP. Today it accounts for a bit under two thirds, about 59 percent to 60 percent of global GDP. That means that the developing world has a voice and a power and a presence, which it did not have in the mid 1970s," said Jacques.

As the Global South is playing an increasingly influential role in world development, the world is being remade in the image of the developing countries, according to Jacques.

"Over the last couple of years, the sort of growing popularity of the term Global South is a way in which this is being recognized more widely in the world. The developing world is becoming more and more important, and more and more impressive in the world. Actually, if we look forward, my guess is in 20 or 30 years' time, the United States will no longer, it will still be important, of course, but the United States won't have the kind of voice or authority it's got now. The world is being remade in the image of the developing world," he said.

World being remade in image of developing world: UK scholar

World being remade in image of developing world: UK scholar

China's outstanding aggregate social financing -- the total amount of financing to the real economy -- reached 442.12 trillion yuan (about 63.4 trillion U.S. dollars) as of the end of 2025, up 8.3 percent year on year, central bank data showed on Thursday.

The country's aggregate social financing stood at 35.6 trillion yuan (about 5.1 trillion U.S. dollars) in 2025, up by 3.34 trillion yuan (about 479 billion U.S. dollars) from the year 2024, said the People's Bank of China (PBOC), the country's central bank.

According to the data, the M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.5 percent year on year to 340.29 trillion yuan (about 48.8 trillion U.S. dollars) as of the end of December.

In addition, outstanding yuan loans stood at 271.91 trillion yuan (about 39 trillion U.S. dollars) at the end of 2025, up 6.4 percent year on year.

China's aggregate social financing maintains high growth in 2025

China's aggregate social financing maintains high growth in 2025

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