Economic imbalance in Global South

It seems strange now, but even 30 years ago, China and India were not the face of the Global South. 
In the early 1980s, Latin America and the Caribbean (LAC) were the leaders in the manufacturing sector in the Global South. The region had a high level of value added in manufacturing per capita, and was also the first to begin liberalizing trade and investment policies.
Over the years, the manufacturing landscapes of East Asia and LAC have diverged. Some LAC countries (Brazil and Mexico) have achieved results in the production of medium-tech products, automobiles, and chemical products, but many countries in the region have maintained and even strengthened their dependence on commodity exports.
East Asia, on the contrary, has made significant progress in the production of high-tech products and electronics. This success is due to low labor costs, vertically integrated value chains and government support.
The global South now accounts for 43% of China.