Two prominent features of the current global economy are the world-wide recession brought about by the recent financial crisis, and the emergence of major economic powers from within the developing world such as Brazil, China and India. The former represents the failure of global regulatory policies and macroeconomic imbalances between surplus and deficit countries; the latter is symptomatic of a partial shift in economic power towards developing nations, who are often collectively labelled the global South. The macroeconomic imbalances are unsustainable in the longer run as they mean greater...