Why China’s Development Philosophy Can Help Promote Global Prosperity

Xi noted that some countries have politicized and marginalized the development issue, built “a small courtyard with high fences”, imposed maximum sanctions and stoked division and confrontation.

And he urged the international community to recognize the world’s prevailing trend, build trust and act in unison and with great motivation to promote global development and foster a development paradigm that delivers benefits for all, the balance, coordination, inclusiveness, win-win cooperation. and common prosperity.

Fulfill people’s dream for a better life

Xi recounted the story and his experience as a farmer on the Loess Plateau in the late 1960s when he spoke at the event.

He said that after visiting cities, towns and villages across China and many countries in the world over the years, a deep impression he had is that only through continuous development can people’s dream of a better life and social stability be realized.

Underscoring putting development at the center of the international agenda, Xi called for implementing the United Nations 2030 Agenda for Sustainable Development and building political consensus on the fact that development is appreciated by all and that cooperation is pursued jointly by all countries.

Pursue common development

Under Xi’s leadership, China is committed to building a world of common prosperity. On Friday, Xi made four proposals to promote common development.

He called for the joint construction of an international consensus on promoting development. “It is only when people everywhere live better lives that prosperity can be maintained, security preserved and human rights firmly entrenched.”

He said the international community should work together to create an international environment conducive to development characterized by an open global economy and a fair and equitable global governance system.

Protectionist movements will boomerang; anyone who attempts to form exclusive blocs will end up isolating themselves, Xi noted, adding that maximum penalties serve no one’s interest, and decoupling and supply disruption practices are neither feasible nor sustainable.

The Chinese president also stressed the need to foster new drivers of development, saying efforts should be made to step up scientific and technological innovation as well as institutional innovation, advance modern industries, bridge the digital divide and accelerate the low carbon transition.

In terms of development, no country or individual should be left behind, Xi said, calling for forging a global partnership for development.

“Developed countries should fulfill their obligations, developing countries should deepen cooperation, and the South and North should meet halfway,” Xi said.

China solid promise

Keeping the welfare of all mankind in mind, Xi proposed the Global Development Initiative (GDI) during the general debate of the 76th UN General Assembly in September 2021 in guiding global development towards a new stage of balanced, coordinated and inclusive growth, which has been warmly welcomed and strongly supported by more than 100 countries.

On Friday, Xi announced China pragmatic new steps to provide continued support for the 2030 Agenda for Sustainable Development and promote global prosperity.

He said China transform the South-South Cooperation Assistance Fund into a Global South-South Cooperation and Development Fund, adding $1 billion to the fund in addition to $3 billion already committed and to increase contributions to the United Nations Trust Fund for Peace and Development.

China stands ready to work with all parties to advance cooperation in poverty reduction and eradication, food production and supply, green development, innovation, vaccine research and development as well as the boosting industrialization and connectivity, Xi noted.

According to the Chinese president, the country will set up a platform for sharing experience and knowledge on international development, a global development promotion center and a global knowledge network for development, with the aim of exchanging governance experiences and to promote mutual learning.

“We will host a global forum on youth development and participate in the launch of a global plan of action on youth development, with the aim of gathering as many forces as possible for the implementation of the Agenda 2030 for sustainable development,” Xi said.