New report stresses Global South's role in bolstering global stability

A newly released report calls for increased global efforts to inject stability into global development, highlighting the crucial role the Global South can play in achieving this goal.

The "Global Development Report 2025", authored by the Center for International Knowledge on Development, or CIKD, was launched in Beijing on Oct 28, focusing on pathways to foster sustainable development and stability amid growing global headwinds.

Zhang Qi, vice minister of the Development Research Centre of the State Council and chief vice-president of CIKD, noted that development is a crucial issue that all countries must face and jointly promote. At a time when global uncertainties are rising, nations should seize upon the stabilizing forces and positive factors, Zhang said.

A key stabilizing force outlined in the report is the rise of the Global South, which officials and experts at the launch event identified as a key driver of global trade and economic growth.

Wang Jinzhao, executive vice-president of CIKD, called for injecting new energy into global development by promoting the revitalization of the Global South.

Wang highlighted the expanding influence of the Global South, with its share of the global economy climbing from 25 percent in the 1980s to 41 percent in 2024.

This growth is not only a new engine for the world economy, he said, but as these nations advocate for a more fair international order and champion multilateralism, their growing strength is making the global system more just and stable.

Carlos Correa, executive director of the South Centre, an intergovernmental think tank for the Global South, pointed to the Global South's collective rise as a new opportunity for industrialization across developing nations. He stressed that South-South cooperation is vital to this collective advancement.

The Global Development Report is a key knowledge product supporting the implementation of the Global Development Initiative. This year's edition marks the fourth annual release of the report. The launch event was attended by over 150 participants, including representatives from international organizations like the United Nations and the Asian Infrastructure Investment Bank, foreign embassies in China, and relevant Chinese government departments and think tanks.