President says development should be at center of international economic and trade agenda
President Xi Jinping has urged the G20 to continue to act as a force to improve global governance and move history forward, as the main forum for international economic cooperation is now confronting a more fragmented world economy than it did in 2008 when its first summit was held.
Xi made the appeal during the second session of the 19th G20 Summit in Rio de Janeiro, Brazil. The session on Nov 18 was a platform for discussions about reforming global governance.
“It has been 16 years since the G20 Summit was launched. Over the years, we have worked in solidarity to tackle the global financial crisis, promoted cooperation on the global economy, finance and trade, and steered the world economy onto the track of recovery,” Xi said.
The G20 now consists of 19 countries and two regional bodies — the European Union and the African Union.
To improve global trade governance and build a world economy characterized by openness, the Chinese president said development should be placed at the center of the international economic and trade agenda, and trade and investment liberalization and facilitation should be steadily advanced. He stressed the need to press ahead with reforming the World Trade Organization, oppose unilateralism and protectionism, restore the normal functioning of the WTO’s dispute-settlement mechanism as soon as possible, and reach an early consensus on an e-commerce agreement.
“It is important to avoid politicizing economic issues, avoid fragmenting the global market, and avoid taking protectionist moves,” Xi told the participating leaders.
The Chinese president’s remarks came at a time when the WTO’s principle of free and fair trade has been challenged by certain countries’ politicization of trade and investment for geopolitical reasons. The global market is also fragmented by acts such as imposition of high tariffs, experts noted.
Shi Shiwei, a senior research fellow at the University of International Business and Economics’ Research Center for China-EU Economic Cooperation, said, “For example, while the United States turns to Mexico and other countries other than China for trade on the pretext of national security, the EU is more focused on its domestic market in the name of diversification.”
Shi said that as a result, trade between countries has become more difficult, steering the world economy away from globalization.
Xi noted in his remarks that “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”.
He urged G20 members to build greater international consensus in the economic, financial, trade, digital and eco-environmental fields to improve global governance and promote an equal and orderly multipolar world.
Xi also called for enhanced international governance and cooperation on artificial intelligence to make sure that AI is for good and for all, not a game of the rich countries and the wealthy.
“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,” Xi said.
Brazilian President Luiz Inacio Lula da Silva, in his speech, said: “The answer to the crisis of multilateralism is more multilateralism.”
Xi said the G20 should support the United Nations and the UN Security Council in playing a greater role and support all efforts conducive to the peaceful settlement of crises.
“To de-escalate the Ukraine crisis and seek a political settlement, we should follow the principles of no expansion of the battlefields, no escalation of hostilities and no fanning flames,” Xi said.
He also stressed the urgent need for all sides to stop fighting in Gaza, to end that war, and to provide support for easing the humanitarian crisis in the Middle East region and for postwar reconstruction.
Zhao Jia in Beijing contributed to this story.
