Xi Jinping Calls for Fair Global Governance at G20 Summit in Rio

Xi Jinping Calls for Fair Global Governance at G20 Summit in Rio

Chinese President Xi Jinping delivered a pivotal speech at the 19th G20 Summit in Rio de Janeiro, Brazil, on November 18, 2024. Addressing global leaders during the second session of the summit, President Xi emphasized the need for collaborative efforts to reform and improve global governance structures, promoting fairness and equity in the international system.

In his speech titled “Working Together for a Fair and Equitable Global Governance System,” President Xi highlighted the accomplishments of the G20 since its inception 16 years ago. He acknowledged the group’s role in steering the world economy towards recovery after the global financial crisis, combating climate change, and addressing the COVID-19 pandemic.

A Call for Collective Action

President Xi urged G20 members to build upon past achievements and act as a driving force in enhancing global governance. “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 stated.

He proposed five key areas for improvement:

1. Global Economic Governance: Advocating for strengthened macroeconomic policy coordination, President Xi called for a commitment to strong, sustainable, balanced, and inclusive growth. He emphasized the importance of creating an open and non-discriminatory environment for international economic cooperation.
2. Global Financial Governance: Highlighting the need for stability, he urged reforms in international financial institutions to increase the voice and representation of developing countries. He called for joint efforts to maintain global financial market stability and reinforce systems for financial risk monitoring.
3. Global Trade Governance: President Xi stressed the importance of promoting trade and investment liberalization and opposing unilateralism and protectionism. He advocated for reforming the World Trade Organization to enhance the multilateral trading system’s authority and effectiveness.
4. Global Digital Governance: Emphasizing innovation, he highlighted the need for strengthening international governance on artificial intelligence (AI) to ensure it benefits all nations. He invited G20 members to participate in upcoming AI conferences hosted by China.
5. Global Ecological Governance: Calling for harmonious coexistence with nature, President Xi underscored the importance of implementing international agreements on climate change and biodiversity. He urged developed countries to support developing nations in achieving green and low-carbon development.

Addressing Global Security

President Xi also touched upon global security governance, expressing support for the United Nations’ role in peaceful conflict resolution. He called for de-escalation and political settlement of crises, including the situation in Ukraine and the conflict in Gaza, emphasizing the urgency of humanitarian support and the pursuit of lasting peace.

A Vision for the Future

Concluding his remarks, President Xi encouraged G20 members to renew their commitment to the group’s founding mission. “Let us carry forward partnership, practice true multilateralism, and usher in a better future of common development and prosperity,” he said.

Reference(s):

Full text: Xi Jinping's speech during 2nd session of 19th G20 Summit

cgtn.com