At the 17th BRICS Summit in Rio de Janeiro, the Chinese premier Li Qiang called for a renewed commitment to building an open world economy. Against a backdrop of rising protectionism and supply chain disruptions, Li stressed the importance of cooperation over unilateralism to keep industrial and supply chains stable and smooth.
- Oppose unilateralism and protectionism
- Strengthen global industrial and supply chains
- Expand the New Development Bank's reach
- Advance World Bank equity reviews and IMF quota adjustments
- Boost representation and voice of developing countries
- Ensure climate finance and technology transfer commitments
- Uphold the UNFCCC and Paris Agreement principles
By supporting the New Development Bank's growth and urging progress on World Bank equity reviews and IMF quota share adjustments, Li aims to give emerging economies a louder seat at the table. He also pressed developed nations to honour their climate financing and technology transfer pledges, stressing the principle of common but differentiated responsibilities under the UN Framework Convention on Climate Change.
For young global citizens, entrepreneurs and changemakers, these proposals signal new opportunities to shape international policy and investment flows. A stable, open market could pave the way for sustainable startups, green tech innovations, and more inclusive development partnerships.
As the summit wraps up, the world will be watching whether the BRICS nations can translate these commitments into real-world impact – reinforcing a global economy that works for all. Stay tuned as we track how these discussions reshape trade, climate finance and global cooperation in the months ahead.
Reference(s):
Chinese premier calls for commitment to building open world economy
cgtn.com
