At the first phase of the 18th G20 Summit 2023 in New Delhi, Chinese Premier Li Qiang delivered a compelling address emphasizing the need for continued global solidarity and cooperation. Premier Li advocated for strengthening coordination on macroeconomic policies to achieve sustainable and meaningful global economic growth, highlighting that such collaboration is essential for maintaining global stability.
Addressing the polarized international environment marked by the Ukraine conflict and attempts to contain the Chinese mainland, Premier Li emphasized the importance of shelving divergences. \"We are willing to join hands with all parties to make greater efforts and contributions for our common earth, common home and for the common future of humanity,\" he stated.
His constructive role in the G20 was lauded by G20 Sherpa Amitabh Kant, who praised China as a genuine multilateral player. Premier Li's endorsement of including the African Union as a permanent member of the G20 underscored Beijing's commitment to consensus building among major economies, advocating for unanimity and unbiased joint declarations.
The Premier also highlighted the supremacy of global governance over unilateral decision-making, stressing its critical role in addressing the global economy's challenges. These challenges include supply side shocks from the Ukraine conflict, rising inflation, declining agricultural sectors in developing countries due to climate change, and increasing food and energy insecurities.
Referencing the World Bank's March 2023 report, Premier Li pointed out that global GDP growth is projected to shrink by 2.2 percent between now and 2030, a significant decline from the 3.5 percent average rate between 2000 and 2010. He underscored that, in a polarized world order, economic stagnation is an unfolding reality that the G20 and the international community cannot ignore.
To overcome these challenges, Premier Li called on G20 member states to prioritize devising solutions for the greater good of humanity over crass geopolitics. He emphasized that as the leading 20 economies, the G20 has a responsibility to provide relief to impoverished countries facing pressing economic challenges. However, he noted that efforts are hampered by the United States' push to control the multilateral mechanism, which acts as a roadblock to the forum realizing its true potential.
Reference(s):
cgtn.com
