Global South can be pillar of global development
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1 month ago

Global South can be pillar of global development

China Daily  

Updated: 2024-11-21 08:18 This photo taken on Nov 16, 2024 shows a G20 logo near the main venue of the 19th G20 summit in Rio de Janeiro, Brazil. The G20 summit, which concluded in Rio de Janeiro on Tuesday, has underscored the important roles the Global South has assumed in different fields, as well as the urgency of reforming the global governance system to make it better reflect the Global South's voices and appeals. To that end, the G20 countries should be committed to strengthening global economic partnerships and macroeconomic policy coordination to help establish an inclusive and nondiscriminatory international economic cooperation environment. The G20 countries should put development at the center of the international economic and trade agenda, continue to promote trade and investment liberalization and facilitation, advance the reform of the World Trade Organization, and push the dispute settlement mechanism to resume normal operation as soon as possible, so as to enhance the authority, effectiveness and relevance of the multilateral trading system. In order to build a just world and promote common development, China has proposed eight actions to support global development, and it has actually been acting upon these to promote the Global South to become the pillar of world peace and stability, the engine of growth and the promoter of fairness, justice and equity in global governance.

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