Xi’s vision guides global growth amid challenges

Experts laud China for its role in promoting BRICS cooperation, advancing multilateralism

The detailed actions, funds and road map unveiled at the recently concluded High-level Dialogue on Global Development as well as the 14th BRICS Summit, hosted by China, showed the country’s strong commitment to shoring up global growth amid unprecedented headwinds and turbulence, according to leaders and scholars.

The measures come at a time when global governance and global development have come to a very risky juncture and are in dire need of solidarity and concerted efforts among developing countries, they added.

On Friday, President Xi Jinping chaired the High-level Dialogue on Global Development via video link from Beijing, bringing together the five BRICS nations — Brazil, Russia, India, China and South Africa — as well as 13 other developing countries.

The Global Development Initiative, proposed by Xi last year for redirecting global attention to development, has received support from over 100 countries and became a catchphrase at the Friday event.

At the dialogue, Xi announced China’s further key measures for fulfilling the initiative, including establishing a Global Development and South-South Cooperation Fund as well as a plan to increase input in the United Nations Peace and Development Trust Fund.

In addition, Beijing will set up a global development promotion center and a global knowledge network for development, Xi announced.

While elaborating on these announcements, State Councilor and Foreign Minister Wang Yi underlined the global economy’s struggle to recover in recent years, the widening South-North gap between developing and developed countries, the lack of momentum for international development cooperation, and the marginalizing of development-related topics on the global agenda.

The detailed action measures pledged by Xi mark “China’s contribution to mobilizing resources for global development and accelerating the implementation of the United Nations 2030 Agenda for Sustainable Development”, Wang said.

Also released at Friday’s dialogue was an outcome list of 32 items for action that cover eight areas — poverty alleviation; food security; the COVID-19 fight and vaccines; financing for development; climate change and green development; industrialization; digital economy; and connectivity in the digital era.

The list includes plans to establish an alliance for global poverty alleviation and development partnership, launch special actions to advance food production, and establish an international alliance for cooperation on vaccine innovation, research and development.

“China, as the world’s largest developing country, staunchly champions the interests of developing countries, and it continues to play an important role in South-South cooperation”, said Xu Xiujun, director of the International Political Economy Department of the Chinese Academy of Social Sciences’ Institute of World Economics and Politics.

“The long outcome list shows that China is always a promoter, propeller and contributor for South-South cooperation as well as a leader in seeking inclusiveness and collaboration,” Xu said.

In addition to the five BRICS nations, the 13 other countries that participated in the dialogue included Indonesia, which holds the G20’s presidency this year; Thailand, the rotating chair of the Asia-Pacific Economic Cooperation forum; and Cambodia, which holds the presidency this year of the Association of Southeast Asian Nations.

Also present at the dialogue were the leaders of Fiji, which is the host country of the Pacific Islands Forum this year; Argentina, which holds the rotating presidency of the Community of Latin American and Caribbean States; Senegal, the rotating chair of the African Union; and Uzbekistan, which holds the presidency of the Shanghai Cooperation Organization this year.

“The 13 countries from most of the world’s continents are convincing representatives of developing countries and emerging economies,” said Zhu Jiejin, a professor of global governance studies at Fudan University’s School of International Relations and Public Affairs.

By inviting them to the dialogue, China could further spread the message of “redirecting global attention to development” to other major global governance venues or forums hosted by these countries this year, Zhu said.

“The implementation of the UN 2030 Agenda is undergoing major challenges, and the world economy’s prospects have been further dampened by the pandemic, the Ukraine crisis, sanctions, energy price hikes and the food crisis. Global development now is at a very dire, dangerous place,” Zhu said.

Vice-Foreign Minister Ma Zhaoxu said: “BRICS is an important symbol of the rise of developing countries as a whole. BRICS cooperation has gone through a course of 16 years and has become a role model for unity and cooperation among emerging markets and developing countries.”

The BRICS countries account for 26 percent of the world’s land, 42 percent of global population and 25 percent of total global economic output.

The BRICS Summit adopted on Thursday a Beijing Declaration to gather the latest results of BRICS practical cooperation and unveil plans for the next stage of BRICS cooperation.

Among the highlights are the five nations’ efforts to advance BRICS’ vaccine research and development center and their plan to crack down on any shelter for individuals engaging in corruption.

“In order to promote the development of the BRICS cooperation mechanism, China has been true to its word and is productive in achieving good results,” said Chen Xulong, a professor of multilateral diplomacy and UN reform studies at the University of International Business and Economics’ School of International Relations.

Through the Thursday summit, China has won widespread praise for promoting the BRICS cooperation mechanism with tangible actions that fulfilled commitments, Chen said.

State Councilor Wang said that the “BRICS Year of China” has been fruitful and full of highlights, and China will host more than 170 BRICS events in various fields throughout the year, with more than 20 ministerial meetings already held in the first half of the year.

In particular, he noted that various “BRICS Plus” activities have engaged more than 50 non-BRICS countries, expanding the influence of BRICS.

Wang Wen, executive dean of the Chongyang Institute for Financial Studies of Renmin University of China, said, “BRICS cooperation means true multilateralism and greater efficacy, and it is inclusive, with different ideologies, political systems and development stages of countries.”

In addition, “as the country with the largest economic output among the BRICS members, China adheres to the concept of mutual benefit and common development, and it works with all parties to make the pie even bigger”, Wang said.