EconoScope | China's commitment inspires, empowers global growth

(ESCN) – The "Building a just world and sustainable planet, leaving no one behind" pledge made by world leaders at the G20 Summit in Rio de Janeiro underscores the shared aspirations of a global community grappling with challenges in an increasingly interconnected yet volatile era.

Over the past week, the Asia-Pacific Economic Cooperation (APEC) 2024 meeting in Lima and the Group 20 (G20) Summit in Brasilia have drawn worldwide attention, with China's proposals and actions taking center stage.

The world is keenly observing China's stance and initiatives amid global uncertainties, said Wang Huiyao, founder and president of the Center for China and Globalization.

China's commitment to openness, inclusiveness, and shared development offers renewed confidence to the international community, he added.

It has maintained a clear and steadfast position of solidarity with developing countries.

China will always be a member of the Global South, a reliable long-term partner of fellow developing countries, and a doer and go-getter working for the cause of global development, Chinese President Xi Jinping said in his speech titled “Building a Just World of Common Development” at the G20 Summit.

He stressed that a single flower does not make spring. “China wants to see a hundred flowers in full blossom and will go hand in hand with fellow developing countries toward modernization,” he said.

China’s unprecedented achievement in lifting 800 million people out of poverty exemplifies that other developing countries could solve their poverty problems, too.

Tu Xinquan, head of the China Institute for WTO Studies, said China's development models such as expanding openness, prioritizing infrastructure, and leveraging market mechanisms, are adaptable to other nations striving for progress.

Facilitating developing countries' integration with digitalization, green transformation, and smart technologies can bridge global disparities and realize shared aspirations, Tu said.

China's commitments have yielded tangible results. Projects like the modernized Chancay Port in Peru, which enhances connectivity across the Pacific, exemplify China's contribution to local infrastructure and trade.

Similarly, the recently announced "eight actions for global development" reflect China's readiness to share its expertise and resources for inclusive and resilient growth.

Wang highlighted that China's unwavering openness and adaptability provide a stabilizing force in uncertain times. By translating principles into practice, China continues to inspire and empower global progress.