•The Global Development Initiative (GDI) that Xi proposed is aimed at meeting the long-term objective and immediate needs of common development of the world.
•All G20 members should lead by example in promoting the development of all nations.
Image: REUTERS/Ajeng Dinar Ulfiana/Pool
The 17th Summit of the 20 most powerful countries in the world (G20) ended mid-November in Bali, Indonesia. The annual meeting seeks to take an audit of the previous year and discuss the kind of future that best suits humanity.
As a key member country, the world looks out for China’s views during the meeting. It is only natural that President Xi Jinping represents his country in person to address his peers and the world as a whole.
In his opening remarks, Xi noted that the world is currently undergoing social, economic and political turbulence never witnessed in a century. The Covid-19 pandemic is still dragging on while the world economy is getting more fragile. Further, the geopolitical environment remains tense, global governance is seriously inadequate and, food and energy crises are worsening.
Therefore, all countries should join hands together to answer the question of our times — "what is wrong with this world, what we should do about it" — so as to tide over difficulties and create a better future together. All G20 members should take the responsibility inherent in being major international and regional players, and should lead by example in promoting development of all nations.
He noted that countries should respect each other, seek common grounds while reserving differences, live together in peace, and promote an open world economy. No one should engage in beggar-thy-neighbor practices, building "a small yard with high fences", or creating closed and exclusive clubs.
The Global Development Initiative (GDI) that Xi proposed is aimed at meeting the long-term objective and immediate needs of common development of the world, fostering international consensus in promoting development, cultivating new drivers for global development, and facilitating common development and progress of all countries.
Within one year, more than 60 countries have joined the Group of Friends of the GDI. China has established the Global Development and South-South Cooperation Fund, and will increase its funding for the China-UN Peace and Development Fund.
The theme of the Bali Summit, "Recover Together, Recover Stronger", sends a positive message of the G20's commitment to supporting the growth of developing countries and preventing divergent and unbalanced global recovery. We need to build a global partnership for economic recovery, prioritise development and put the people at the center, always keep in mind the difficulties faced by developing countries, and accommodate their concerns. China supports the African Union in joining the G20.
Global trade, digital economy, green transition and fighting corruption are key factors driving global development. We should continue to uphold the WTO-centered multilateral trading system, actively push forward WTO reform, enhance trade and investment liberalization and facilitation, and promote an open world economy. China has proposed the G20 Action on Digital Innovation and Cooperation.
In tackling climate change and transitioning toward green and low-carbon development, the principle of common but differentiated responsibilities must be upheld. It is also important to provide funding, technology and capacity-building support for developing countries and promote cooperation on green finance.
International cooperation is very important for fighting corruption. G20 members must maintain zero tolerance for corruption, step up international cooperation on fugitive repatriation and asset recovery, and refuse to provide "safe havens" to corrupt individuals and assets.
Image: REUTERS
Global development would be impossible without a peaceful and stable international environment. With this in mind, Xi put forward the Global Security Initiative. The goal is to work with all parties to champion the spirit of the UN Charter, act on the principle of indivisible security, uphold the vision of common, comprehensive, cooperative and sustainable security, advocate the resolution of conflicts through negotiation and settlement of disputes through consultation, and support all efforts conducive to the peaceful settlement of crises.
Food and energy security is the most pressing challenge in global development. The root cause of the ongoing crises is not production or demand, but interrupted supply chains and international cooperation.
The way out of this is for all countries to, with the coordination of the UN and other multilateral international organisations, enhance cooperation on market supervision and regulation, build partnerships on commodities, develop an open, stable and sustainable commodities market, and work together to unclog supply chains and stabilise market prices.
Over the years, China has made major contribution to global food and energy security. This year, China has proposed, together with six partners including Indonesia and Serbia, the Initiative of International Cooperation on Resilient and Stable Industrial and Supply Chains, joined other countries in calling for the establishment of the Global Clean Energy Cooperation Partnership, and put forward the International Cooperation Initiative on Global Food Security in the G20.
The Communist Party of China has recently convened its 20th National Congress, laying out the goals, tasks and guiding policies for the cause of the Party and the country in the next five years and beyond. China will stay committed to the path of peaceful development, stay committed to deepening reform and opening-up, and stay committed to promoting national rejuvenation on all fronts through a Chinese path to modernization.
A China marching toward modernisation will bring more opportunities to the world, inject stronger momentum for international cooperation, and make greater contribution to human progress!
The writer is the Executive Director of South-South Dialogues and a PhD student in International Relations at USIU-Africa.