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Xi Advocates Balanced Global Economy with Multipolar Trade Opportunities

by admin477351

In a recent call for a more balanced global order, Chinese President Xi Jinping emphasized the need for an equitable multipolar world where the Global South plays a more prominent role in international affairs. Speaking at the Shanghai Cooperation Organization (SCO) Plus Meeting held in Bishkek, Kyrgyzstan, on September 1, Xi stressed that the emergence of the Global South is reshaping the international power dynamics, marking an irreversible shift towards a multipolar world.

Xi advocated for foundational principles in international relations such as sovereign equality, mutual respect, multilateralism, dialogue, and consultation. He urged for equal rights, opportunities, and rules for all countries, irrespective of their size, strength, or wealth. Moreover, Xi called on major powers to honor international norms and uphold the rule of law. He underscored the importance of enhancing the United Nations’ role in global governance, advocating for broader participation in addressing international issues.

The Chinese President also highlighted the need for countries to prioritize development, maintain an open and cooperative stance, and work towards narrowing the digital and artificial intelligence divides, ensuring technological advancements benefit more nations. Xi pointed to the Shanghai Cooperation Organization’s 25-year history as a testament to effective collaboration among countries with varied political systems, cultures, and developmental stages. He called for stronger SCO Plus partnerships and increased cooperation between Asia and Europe, particularly through high-quality Belt and Road initiatives.

Xi’s remarks follow his proposal of the Global Governance Initiative at the previous year’s SCO Plus Meeting in Tianjin. Since its introduction, China claims that the initiative has garnered support from multiple countries and international organizations, reflecting a growing consensus around the ideas proposed by Xi. His speech in Bishkek underscores China’s intent to play a pivotal role in shaping a fairer global governance system where all nations, especially from the Global South, have a greater say in international matters.

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