China upholds multilateralism at UNGA: Expert

World
Europe

04:34

This year's session of the UN General Assembly (UNGA) focuses on multilateralism and the relevance of the world body.

Chinese State Councilor and Foreign Minister Wang Yi proposed four principles to practice multilateralism in the new era at the UNGA, namely, "The world shall pursue win-win cooperation," "All nations shall act upon rules and order," "The world shall uphold fairness and justice," "All nations must act to deliver real results."

Rong Ying, vice president of the China Institute for International Studies shared his views on the challenges of multilateralism and China's commitment to support a free and fair global trading system.

Rong said multilateralism has suffered some setbacks especially since Donald Trump took office.

Protectionism and unilateralism are on the rise partly because the fast development of globalization during past decades, which produces some winners and losers, and some developed countries don't want to see others win, according to Rong.

Rong believes that pursuing protectionism is counterproductive, as Chinese President Xi Jinping said that pursuing protectionism is like locking oneself in the dark room. The dark room can somehow keep wind outside, but also shuns air and light. Nobody will emerge as winner in trade tensions.

China stays committed to multilateralism and the UN is the most important platform of fair and free trade.

Rong said China is making the trading system more deliverable and practical, and the Belt and Road Initiative is one of China's answers to the world.