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BEIJING, Nov. 22, 2024 /PRNewswire/ -- A news report from chinadaily.com.cn：

Analysts highlight Beijing's efforts to support developing countries in global economic order.

In a fragmented world that needs to fix deficits in peace, development and governance, China's visions, proposed by President Xi Jinping at the 19th G20 Summit, of building a just world of common development and promoting a fair and equitable global governance system are of great relevance to making the world a better place, according to analysts.

The G20 Summit, hosted by Brazil in Rio de Janeiro on Monday and Tuesday, took place amid shifting geopolitical dynamics and economic uncertainty, providing an opportunity for world leaders to get together to discuss solutions to address urgent global challenges, including economic stagnation, trade disruptions, food security, reform of multilateral institutions and climate governance.

As leader of the second-largest economy and the largest developing country in the world, Xi's attendance and his interactions with other leaders at the summit were in the spotlight.

Addressing the summit, he outlined China's eight actions to support global development, including pursuing high-quality Belt and Road cooperation, implementing the Global Development Initiative, supporting international cooperation on poverty reduction and food security, and supporting the G20 in carrying out practical cooperation for the benefit of the Global South.

He called for improving global economic, financial, trade, digital and ecological governance to build a world economy characterized by cooperation, stability, openness, innovation and eco-friendliness.

Evandro Menezes de Carvalho, a professor of international law at Fluminense Federal University in Brazil, said that taking a systemic view of global governance, Xi highlighted key actions in each of the main areas of global governance in his speech.

"China has already given concrete demonstrations of being a country committed to the development of a more inclusive international order. In addition, it has been very active in promoting green development with significant investment in technology and environmental protection," he said.

The professor noted that global economic development depends on a balanced, stable financial and trade system that takes into account the needs of developing countries in order to promote a more inclusive international order, highlighting the importance of Xi's remarks on improving global digital and ecological governance with the Global South and developing countries involved.

"Global digital governance and ecological governance, which are increasingly linked to each other, if well directed towards the common good, could contribute to opening new paths for the future for humanity as they increasingly exert influence in today's world."

Under the Brazilian presidency, the Rio G20 Summit adopted the motto "Building a Just World and a Sustainable Planet", focusing on three priority themes: energy transition, fair sustainable development (with an emphasis on combating hunger, poverty and inequality), and reform of multilateral institutions.

China, standing at the forefront of the Global South, has been advocating for greater representation of developing countries in global governance to promote an international order that is truly democratic, inclusive and multilateral.

From advocating the Five Principles of Peaceful Coexistence to proposing the construction of a new type of international relations featuring win-win cooperation, and building a community with a shared future for mankind, China's consistent goal has been to build a more equal and just world, ensuring that developing countries have a greater voice in global affairs, observers said.

At the Rio G20 Summit, Xi urged the World Bank to carry out a shareholding review and the International Monetary Fund to carry out quota share realignment in line with the agreed time frame and road map in order to increase the voice and representation of developing countries.

He said that China, alongside Brazil, South Africa and the African Union, is proposing an Initiative on International Cooperation in Open Science to help the Global South gain better access to global advances in science, technology and innovation.

Anthony Moretti, an associate professor in the Communication and Organizational Leadership Department at Robert Morris University in the United States, said that Xi is spot on when he suggests that isolationism is not what the global community needs right now. This is especially true for the developing world, Moretti added.

Mehmood Ul Hassan Khan, executive director of the Center for South Asia and International Studies in Islamabad, Pakistan, said that Xi has made proposals for an open, inclusive and non-discriminatory environment for international economic cooperation through a universally beneficial and inclusive economic globalization.

His proposals support developing countries in better integrating into digital, smart and green development to bridge the North-South gap, and they constitute a holistic and comprehensive policy badly needed for economic recovery, poverty reduction and job creation, Khan said, adding they reflect the global need for complete transformation from isolation to integration, from Cold War mentality to international cooperation.

As the Ukraine crisis and Palestine-Israel conflict remain protracted, Xi highlighted at the Rio G20 Summit that "global security governance is part and parcel of global governance". The G20 should support the UN and its Security Council in playing a greater role, and support all efforts conducive to the peaceful settlement of crises, he said.

China and Brazil, together with some other Global South countries, have launched a group of "friends for peace" on the Ukraine crisis, with the goal of bringing together more voices for peace.

Khan said that the proposal of the group of "friends for peace" is innovative and well-timed, which must be listened to and implemented for achieving peace in Ukraine and Palestine.

Marcos Cordeiro Pires, a professor of international political economy at Sao Paulo State University, said that the China-proposed Global Development Initiative, Global Security Initiative, Global Civilization Initiative and Belt and Road Initiative are becoming international public goods that offer a path to building actions that help overcome the immense challenges faced by humanity.

These initiatives are a counterpoint to selfishness and unilateralism by pointing out that development is essential to overcoming hunger and poverty, that no country can guarantee its security at the expense of others, that peaceful coexistence between civilizations presupposes respect for the uniqueness of each culture, and, above all, that building infrastructure is one of the best ways to guarantee progress and address inequalities, Pires said.

The Chinese president also urged G20 countries to "see each other's development as opportunities rather than challenges and view each other as partners rather than rivals", highlighting the need to observe the basic norms of international relations underpinned by the purposes and principles of the United Nations Charter and defend the international order based on international law.

Xu Feibiao, a senior researcher and the director of the Center for BRICS and G20 Studies of China Institutes of Contemporary International Relations, said that China remains committed to safeguarding a multilateral system with the UN at its core, following the path of peaceful development, and advocating for the building of a community with a shared future for mankind.

It calls for a new type of international relations and upholds the principles of "extensive consultation, joint contribution and shared benefits" in global governance, Xu said, adding these efforts and principles are gaining broader recognition and respect from countries all over the world, offering hope for the G20 to regain its relevance in global governance.

The Rio G20 Summit adopted a leaders' declaration, with the G20 leaders reaffirming their strong commitment to multilateralism and pledging to reform the global governance system.

The leaders pledged to work for a reinvigorated and strengthened multilateral system, rooted in the purposes and principles of the UN Charter and international law, with renewed institutions and a reformed governance that is more representative and effective, according to the declaration.

They also pledged to reform the UN Security Council to align it with the realities and demands of the 21st century and make it more representative, inclusive and effective, the declaration said.

Rena Li in Los Angeles, Yifan Xu in Washington and Xu Weiwei in Hong Kong contributed to the story.

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SOURCE chinadaily.com.cn