The Big Blocs Have Converged: Time For The "Global South"?

Some interesting observations in today's Chart of the Day from Deutsche Bank's Jim Reid. 

According to the bank's head of thematic strategy, the economic story of this century thus far has been the extraordinary rise of China: China’s share of world GDP has gone from 2% in 1990 to a peak of 18% in 2022. More recently, US outperformance has seen it claw back share from a post-GFC low of 21% to 27%. In comparison, Europe and the Global South have moved sideways in recent years.