President Xi ‘speaks about aspirations of developing countries and charts a clear course for reform of global governance system during BRICS events’, Chinese foreign minister says

Photo: Chinese Ministry of Foreign Affairs

Chinese President Xi Jinping’s speech laid out the aspirations of developing countries, charted a clear course for reforming the global governance system and gathered strength for global economic recovery, the State Councilor and Minister of Foreign Affairs said Friday evening. Foreign Affairs Wang Yi to reporters.

Wang’s comment came after Xi chaired and participated in a series of BRICS-related meetings from Wednesday to Friday.

It is the most important diplomatic event held by China ahead of the 20th National Congress of the Communist Party of China later this year. It is of great significance to jointly safeguard international justice, revitalize the cause of global development and advance the building of a community with a shared future for mankind, Wang said.

Xi attended the opening ceremony of the BRICS Business Forum virtually on Wednesday and delivered a keynote speech. Xi hosted the 14th BRICS Summit and the High-Level Dialogue on Global Development in Beijing via video link on Thursday and Friday, respectively.

Speaking at the summit, Xi said: “Our world today is overshadowed by the dark clouds of Cold War mentality and power politics, and beset by traditional and non-traditional security threats that constantly emerge. . Some countries are trying to expand military alliances to seek absolute security, stoking bloc-based confrontation by forcing other countries to choose sides and pursue unilateral domination at the expense of the rights and interests of others. If such dangerous trends are allowed to continue, the world will experience even more turbulence and insecurity.

“It is important that BRICS countries support each other on issues concerning core interests, practice genuine multilateralism, uphold justice, fairness and solidarity, and reject hegemony, bullying and division,” he said. he declared.

President Xi said BRICS countries should uphold genuine multilateralism, safeguard the international system with the UN at its core as well as the international order based on international law, abandon the Cold War mentality and oppose unilateral sanctions. , according to Mr. Wang.

Xi also noted in his speech that the combination of the COVID-19 pandemic and the Ukraine crisis has led to disruptions in global industrial and supply chains, sustained increases in commodity prices and weakened systems. international money and finance. All of this has cast a shadow over development around the world, and emerging markets and developing countries are bearing the brunt of it. But just as a crisis can bring chaos, it can also spur change. Much will depend on how we handle the crisis.

Xi called for efforts to strengthen the connectivity of industrial and supply chains and jointly address challenges in poverty alleviation, agriculture, energy, logistics and other fields.

“We should support greater development of the new development bank and a regular process of admitting new members, and improve the contingent reserve arrangement to cement the BRICS financial safety net and firewall. We should also expand BRICS cooperation on cross-border payments and credit scoring to facilitate trade, investment and finance between our countries,” Xi said.

President Xi Jinping’s speech is clear and powerful, expressing the common aspiration of developing countries to love peace and tranquility and oppose hegemony and power, and spoke the voice of justice and peace, Wang said.

At the High-Level Dialogue on Global Development, President Xi said it is important that we put development at the top of the international agenda and implement the 2030 Agenda for Sustainable Development, saying said Mr. Wang.

He stressed that the North and the South must work in the same direction to forge a united, equal, balanced and inclusive global development partnership and that in this process, no country or individual should be left behind, said Mr. Wang.

Besides the BRICS countries, the leaders of the rotating G20 presidency, Indonesia, the rotating APEC presidency, Thailand, the rotating ASEAN presidency, Cambodia, Egypt, Iran and other emerging economies and developing countries have also joined the dialogue, demonstrating its broad representation and international influence, Wang noted.

President Xi called for efforts to steer globalization towards healthy development, increase the representation of emerging markets and developing economies in global economic governance, Wang said.

He urged major developed economies to adopt responsible economic policies to avoid negative spillovers from their policies and prevent serious shocks to developing countries, according to Wang.

BRICS countries, which account for 42 percent of the world’s population and 25 percent of the global economy, represent the trend of the collective rise of major developing countries, Wang said.

The BRICS mechanism has become the most influential South-South cooperation platform, Wang said, adding that President Xi said BRICS membership should be expanded to allow like-minded partners to join as soon as possible.

Global Times-Xinhua

Denise W. Whigham