China presents proposals to boost global development, tackle economic hardship

0


[ad_1]

BEIJING, October 30, 2021 / PRNewswire / – In early October, the International Monetary Fund, in its World Economic Outlook, reduced its global growth forecast for 2021 to 5.9% and warned of high uncertainty over economic recovery .

In such a context, the leaders of the 20 largest economies in the world gathered in Italy Rome Saturday trying to get the multilateral platform to work again – just like it did when it held two summits a year in the aftermath of the 2008 global financial crisis.

China, the important growth engine of the global economy, underscored cooperation, inclusion and green development at the 16th Group of 20 (G20) Leaders’ Summit.

Cooperation against the pandemic

As COVID-19 still ravages the world, global vaccine cooperation was prioritized by Chinese President Xi Jinping during his video address at the first session of the summit.

He proposed a six-point global vaccine cooperation action initiative, focused on vaccine R&D cooperation, equitable vaccine distribution, waiver of intellectual property rights to COVID-19 vaccines , fluid trade in vaccines, mutual recognition of vaccines and financial support for global vaccine cooperation. .

Inequality in vaccine distribution is significant, with low-income countries receiving less than 0.5 percent of the global total and less than 5 percent of africa The population is fully vaccinated, according to the World Health Organization (WHO).

WHO has set two goals to deal with the pandemic: vaccinating at least 40 percent of the world’s population by the end of this year and increasing it to 70 percent by mid-2022.

China stands ready to work with all parties to increase accessibility and affordability of vaccines in developing countries and make positive contributions to building a global vaccine defense line, ”Xi said.

China has provided more than 1.6 billion doses of vaccine to more than 100 countries and international organizations to date. In total, China will provide more than 2 billion doses for the world all year round, he added, noting that China conducts joint vaccine production with 16 countries.

Building an open global economy

Promoting economic recovery, the president stressed that the G20 should prioritize development in coordinating macroeconomic policies, calling for making global development more equitable, efficient and inclusive to ensure that no country is left behind. account.

“Advanced economies should keep their official development assistance commitments and provide more resources to developing countries,” Xi said.

He also welcomed the active participation of more countries in the Global Development Initiative.

Not so long ago, he proposed the Global Development Initiative to the United Nations and called on the international community to strengthen cooperation in the areas of poverty reduction, food security, response COVID-19 and vaccines, development finance, climate change and green development, industrialization, digital economy and connectivity.

The initiative is highly compatible with the G20’s goal and priority of promoting global development, Xi said.

Support for green development

Meanwhile, tackling climate change is a global priority as the 26th meeting of the Conference of the Parties (COP26) at the United Nations Framework Convention on Climate Change will open on Sunday at Glasgow, Scotland.

In this context, Xi urged developed countries to lead by example in reducing emissions, saying countries should fully adapt to the particular challenges and concerns of developing countries, meet their commitments on emissions reduction. climate finance and provide technology, capacity building and other support to developing countries.

“This is of crucial importance for the success of the next COP26,” he said.

Xi has repeatedly emphasized from China perspective on global climate governance and expressed from China strong support for the Paris Agreement, facilitating major advances at the global level.

In 2015, Xi gave a keynote address at the Paris Climate Change Conference, making a historic contribution to the conclusion of the Paris Agreement on global climate action after 2020.

Earlier this month, he highlighted efforts to achieve from China peak carbon and neutrality targets during the leadership summit intervention of the 15th meeting of the Conference of the Parties to the Convention on Biological Diversity.

This year’s G20 summit was held both online and offline under the Italian presidency, focusing on the most pressing global challenges, with issues related to the COVID-19 pandemic, climate change and economic recovery at the top of the agenda.

Created in 1999, the G20, made up of 19 countries plus the European Union, is the main forum for international cooperation on financial and economic issues.

The group represents nearly two-thirds of the world’s population, more than 80 percent of the world’s gross domestic product and 75 percent of global trade.

https://news.cgtn.com/news/2021-10-30/China-puts-forward-proposals-on-boosting-global-development-14MDU37P5gk/index.html

Cision

View original content to download multimedia:https://www.prnewswire.com/news-releases/cgtn-china-puts-forward-proposals-on-boosting-global-development-addressing-economic-difficulties-301412393.html

SOURCE CGTN

[ad_2]

Share.

Leave A Reply