G20's timely call for multilateralism, partnership and equity

Editor's note: Yi Xin is a Beijing-based international affairs commentator. The article reflects the author's opinions and not necessarily the views of CGTN.

In the wake of the 2008 global financial crisis, the Group of 20 (G20) was elevated to the leaders' level and entrusted with a crisis-solving mission. Working in the spirit of partnership, members helped stabilize a global economy teetering on the edge of disaster and successfully steered it toward recovery in the years that followed. That was a momentous case of multilateralism, where major economies chose unity and common interests over division and selfish calculations in trying times, and it established the G20 as the premier forum for global economic governance.

The challenges confronting today's world are no less severe – from protracted regional wars to sluggish post-pandemic recovery, from rising geopolitical tensions to the climate crisis. At this new historical crossroads, the international community once again looks to the G20 to step forward and help the world navigate through difficulties, especially economic challenges. Remarkably China and fellow G20 members appealed for multilateralism, partnership and equity at the recent summit held in Rio de Janeiro.

Upholding multilateralism in global governance

As a pivotal platform for dialogue and cooperation among major developed and developing countries, the G20 is a manifestation of the spirit of multilateralism. But in recent years, the unilateral and protectionist approach of some countries has impeded practical cooperation within the platform and prompted many to question the commitment of the G20 to multilateralism and its ability to address pressing issues.

Against this backdrop, Chinese President Xi Jinping's call for a renewed commitment to true multilateralism, especially the UN-centered international system, is timely and to the point. As he highlighted at the summit, to build a just world of common development, "we need to stay committed to multilateralism." If major economies shift from a "go together" approach to a "go alone" mindset, it would raise the risk of fragmentation in global governance and diminish the hope of building such a world.

Therefore, it is gratifying to see the G20 recognized in the Rio de Janeiro Leaders' Declaration that "the challenges the global community faces today can only be addressed through multilateral solutions," because only by ensuring the full, equal and meaningful participation of all countries can we mount an effective response to global challenges.

Strengthening partnerships for common development

When countries face common challenges, the wise and right thing to do is to tackle challenges through cooperation and partnership, not building "small yards with high fences" or playing the blame game. This is common sense. Take, for example, issues like poverty and hunger. Promoting partnerships in areas like food security, education and experience sharing could boost efforts to fight poverty and hunger across the world.

It is laudable that the Rio de Janeiro summit launched the Global Alliance against Hunger and Poverty, a fruitful outcome of partnerships, and it invited all countries, international organizations, multilateral development banks, knowledge centers and philanthropic institutions to join. China also took an exemplary step by announcing eight actions to support global development, committing itself to international cooperation in Africa's development, infrastructure, digital economy, poverty reduction, food security, science, clean energy, anti-corruption, among others.

These messages of partnership will give the world more confidence in international cooperation, and the initiatives will surely help participants better cope with challenges of a global nature and yield mutual benefit.

Building an equitable world with no one left behind

President Xi made an insightful observation stating that "prosperity and stability would not be possible in a world where the rich become richer while the poor are made poorer." Stronger development and equal participation of the Global South, which accounts for around 85 percent of the global population, are indispensable for a better tomorrow in the world.

To make that happen, the Global South needs robust funding, technology and capacity-building support. Thanks to relentless advocacy by major developing members, such as China, Brazil and India, the G20 has pressed for reforms to make global governance more equitable, especially the reform of the international financial architecture so that it reflects the growing influence of emerging markets and developing countries.

It is also encouraging to see the summit dedicate a whole section of the Leaders' Declaration to the reform of international financial institutions and endorse the G20 Roadmap to make multilateral development banks better, bigger and more effective. What should come next is concrete and well-coordinated actions to deliver.

We are reminded every day that the world is already one community with a shared future. The history of the G20 is a reminder to all of us that if nations come together in solidarity, there will be no challenge too great to overcome. As the world continues to grapple with diverse challenges, every country must heed this timely call for multilateralism, partnership and equity.

(If you want to contribute and have specific expertise, please contact us at opinions@cgtn.com. Follow @thouse_opinions on Twitter to discover the latest commentaries in the CGTN Opinion Section.)