At Davos this year, a familiar but sobering warning echoed through the slopes: the global order is fracturing into closed loops. In Western capitals, “de-risking” remains the dominant keyword, framing the global economy as a series of strategic high walls. Yet, beyond these barriers, a more tangible crisis is unfolding across the Global South. The infrastructure deficit continues to widen, estimated at a staggering US$1.7 trillion annually for Asia alone. This is a crisis of global governance....