Title:Giant Molecular Clouds and Massive Star Formation in the Southern Milky Way. Abstract: The Columbia - U. Chile Survey of the Southern Milky Way is used for separating the CO(1-0) emission, within the solar circle, into the major giant molecular clouds (GMCs). A total of 86 GMCs, are identified, with a summed molecular mass of M(H2) = 6.02 ± 0.33 10^7 Msolar. These GMCs trace the known spiral arms of Centaurus and Norma, and the 3-kpc expanding arm. From an updated CS(2-1) survey of IRAS point-like sources with FIR colors of UC H II regions, we derive the massive star formation rate per unit H2 mass, 0.32 ± 0.05 Lsolar/Msolar, a value consistent with that at the peak of the southern molecular ring (Bronfman et al. 2000). The massive star formation efficiencies are of a few percent, suggesting that giant molecular clouds are extremely inefficient in forming massive stars.