Zhang Mingyang/ Yang Xinmiao

From November 18 to 19, 2024, the 19th Summit of the G20 Leaders was convened at the Museum of Modern Art in Rio de Janeiro, Brazil, wherein the participants engaged in in-depth deliberations regarding the prospective developmental trajectories and the emerging paradigms of the global order. The G20 Summit, under the overarching theme of “Constructing a Just World and a Sustainable Planet”, encompassed a comprehensive exploration of matters such as global disparities, sustainable development imperatives, and the restructuring of global governance mechanisms. A total of 55 heads of state, government chiefs, and representatives of international organizations were in attendance at the Rio G20 Summit.

In the contemporary context, the global economic growth is beset by a paucity of impetus. Concurrently, the international arena is witnessing a proliferation of unstable and indeterminate elements, thereby presenting formidable challenges to the achievement of global sustainable development. Beneath the veneer of ceremonial pomp and acclaim, there exists a complex interplay and contention among diverse interests, positions, and policy prescriptions. In the arduous endeavor to erect a just world and a sustainable planet, the puissance and contributions of China assume a position of paramount and indispensable significance.

“Social Inclusion and Combating Hunger” is the top agenda item of this year’s summit. The global poverty and hunger issues remain severe at present. The host country Brazil has made “Eradicating Hunger and Poverty” the primary concern. As a crucial platform for global economic cooperation, the G20 should not confine its vision within the interest scope of the developed countries where the so-called “Billionaire Class” resides. With its remarkable transformation from poverty to subsistence, and from moderate prosperity on the whole to comprehensive prosperity, China has presented a replicable and referential blueprint of poverty reduction experience for all countries.

Development is the master key to resolving poverty issues. Development has been a topic that China has been leading the discussion in the G20. Through science and technology-driven initiatives, trade stability promotion, and exploration of new cooperation models, China has been unremittingly tapping growth potential and augmenting the development increment of the Global South.

“Justice” has become a key word in the agenda being promoted by the Global South. The issue of development directly points to the issue of justice. Justice can never be achieved by simply waiting idly and doing nothing, nor can it be attained by relying on the handouts of other countries. China adheres to a people-centered approach, enhancing the fairness, effectiveness, and inclusiveness of global development, striving to ensure that no country is left behind.

The genuine development is the common development of all countries. A world pattern in which the poor become poorer and the rich become richer is definitely incapable of underpinning the prosperity and stability of the globe. The people of every country, regardless of region and race, all cherish the aspiration for a better life.

The path of modernization is by no means the exclusive domain of a few countries but should be the common pursuit and right of all mankind. The “Global South” countries, including China, have always been the supporters and defenders of the multilateral trading system, committed to promoting global economic governance to develop in a more open, inclusive, beneficial, balanced, and win-win direction.

“Global Governance Reform and Sustainable Development” is the core theme of Brazil’s tenure as the G20 presidency. In today’s world, the role of emerging economies and developing countries in global governance is gradually strengthening.

However, factors such as geopolitical tensions have led to the impact on multilateral cooperation mechanisms, and the reform process of international organizations faces numerous obstacles. In recent years, as the rotating presidency, Brazil has proposed discussions on how to promote the modernization of major international institutions such as the United Nations, the International Monetary Fund, the World Bank, and the World Trade Organization, so that they can reflect contemporary realities and facilitate more equitable and effective governance.

National leaders have engaged in discussions on issues related to energy transformation. Currently, the world is facing an unprecedented climate crisis. The G20 countries, which account for a large proportion of carbon emissions, will deliberate on strategies to promote a greener and more sustainable global economy. Brazil positions itself as a leader in environmental issues on the global agenda and advocates an approach that takes into account local realities and access to clean energy sources. Only by China and Brazil embracing the great vision of common prosperity and following the path of inclusive development can this be transformed into a realistic scenario.

The G20 Summit serves as a bridge between developed and developing countries. Developed countries can share their experiences in areas such as scientific and technological research and development and high-end manufacturing; developing countries, on the other hand, can showcase their exploration achievements in emerging fields like the digital economy and the utilization of green energy, facilitating mutual learning in economic models between the two sides.

China has always been resolute in speaking up for developing countries, actively promoting multilateral trade cooperation, helping developing countries expand overseas markets and obtain financial and technological support, enabling developing countries to have more participation opportunities in the global industrial chain and trade system and express their demands more forcefully in the discussions of global economic governance issues. And the power of China is undoubtedly an essential and powerful engine among them.

The achievement of international consensus is a difficult process and requires the joint efforts of all countries in the world. Let the light of justice and sustainability shine on every corner of the world, contribute to the edifice of the Community with a Shared Future for Mankind, and help all mankind jointly move towards a prosperous, harmonious and beautiful tomorrow.

Zhang Mingyang is Scholar at the Baize Institute for Strategy Studies, Southwest University of Political Science and Law, People’s Republic of China.

Yang Xinmiao is Scholar at the Baize Institute for Strategy Studies, Southwest University of Political Science and Law, People’s Republic of China.