Xi calls for a fair, equitable global governance system, warns against protectionism at G20 summit

(Global Times) -- Chinese President Xi Jinping on Monday called for building a fair and equitable global governance system, while warning against politicising economic issues, fragmenting the global market and taking protectionist moves, in remarks delivered at the Session II of the 19th G20 Summit in Rio de Janeiro, Brazil.

Chinese President Xi Jinping delivers an important speech entitled “Working Together for a Fair and Equitable Global Governance System” at the Session II of the 19th G20 Summit on Reform of the Institutions of Global Governance in Rio de Janeiro, Brazil. --Photo Xinhua

“We should keep in mind that mankind lives in a community with a shared future, see each other’s development as opportunities rather than challenges, and view each other as partners rather than rivals,” Xi said in the speech.
“In light of the G20’s mandate, we could build greater international consensus in the economic, financial, trade, digital and eco-environmental fields, among others, to improve global governance and promote an equal and orderly multipolar world and a universally beneficial and inclusive economic globalisation,” Xi said.
In the remarks, Xi stressed the need to improve global economic governance and build a world economy characterised by cooperation, the need to improve global financial governance and build a world economy characterised by stability, and the need to improve global trade governance and build a world economy characterised by openness.
“We should press ahead with reforming the World Trade Organisation (WTO), oppose unilateralism and protectionism, restore the normal functioning of the dispute settlement mechanism as soon as possible, include the Investment Facilitation for Development Agreement into the WTO legal framework, and reach early consensus on the e-commerce agreement,” Xi said. “It is important to avoid politicising economic issues, avoid fragmenting the global market, and avoid taking protectionist moves in the name of green and low-carbon development,” he said.
The Chinese president also emphasised the need to improve global digital governance and build a world economy characterised by innovation, saying that “we should step up international governance and cooperation on artificial intelligence (AI), to make sure that AI is for good and for all, not a game of the rich countries and the wealthy.”
Xi also stressed the need to improve global ecological governance and build a world economy characterised by eco-friendliness. “China stands ready to continue to deepen international cooperation with all sides on green infrastructure, green energy, green mining and green transport, and will provide support to developing countries to the best of its ability,” he said.  
In Rio de Janeiro, the Chinese president’s attendance and remarks at the G20 summit drew widespread attention, with journalists from around the world closely following Xi’s meetings and commending his remarks for promoting multilateral cooperation on addressing global challenges.
“I think that Xi has set out a really significant international agenda, so he had his eight concrete actions,” Matthew Bishop, a senior lecturer in international politics at the University of Sheffield in the UK, told the Global Times on Monday on the sidelines of the G20 Summit in Rio de Janeiro. “It seems to me that China is increasingly trying to take a lead when it comes to global multilateralism.”
In his remarks on Fight Against Hunger and Poverty at Session I of the 19th G20 Summit on Monday, Xi said that China is ready to work with all parties to build a just world of common development and outlined China’s eight actions for global development.

(Latest Update November 20, 2024)