Global South can be pillar of global development

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.

The G20 countries should view each other's development as an opportunity rather than a challenge, and view each other as a partner rather than an opponent. They should work together to promote an orderly multipolar world and inclusive economic globalization that is cooperative, open, innovative and eco-friendly.

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 particular, some developed economies should avoid politicizing economic issues, artificially dividing the global market, and discard their protectionism and unilateralism in the name of green development and national security.

The G20 should assume a leading role in promoting the deep integration of the digital economy and the real economy, and rule-making in emerging digital fields, so as to strengthen international governance and cooperation in artificial intelligence, and avoid AI becoming of exclusive benefit to the rich.

Facing the challenges, the countries of the Global South should strengthen their cooperation, help each other advance their modernization, and narrow the gap between the North and the South.

China, a major member of the Global South, has always been a doer rather than a talker, supporting the cause of global development. 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.

21ST CENTURY BUSINESS HERALD