CGTN: How China advances future development of the Global South

BEIJING, Oct. 24, 2024 /PRNewswire/ -- Practical cooperation has always been the foundation of the BRICS mechanism, a good example of which is the launch of the New Development Bank (NDB).

Headquartered in Shanghai, the NDB was jointly established by Brazil, Russia, India, China and South Africa in 2014 to mobilize resources for infrastructure and sustainable development projects in BRICS member nations and other emerging market economies and developing countries.

Approving over 100 projects in all member countries for approximately $35 billion by the end of 2023, the NDB has safeguarded the economic development of the BRICS member countries and contributed to the improvement and development of the global economic governance system.

"The collective rise of the Global South is a distinctive feature of the great transformation across the world," Chinese President Xi Jinping said during the BRICS Plus leaders' dialogue in Russia's Kazan on Thursday.

He called on the countries in the Global South to use their collective wisdom and strength and stand up to their responsibility for building a community with a shared future for mankind.

Striving for common security, exchanges among civilizations

BRICS Plus countries should be a stabilizing force for peace, strengthen global security governance, and explore ways to address both the symptoms and root causes of hotspot issues, Xi said.

Regarding the Ukraine crisis, China has repeatedly dispatched special envoys to engage in shuttle diplomacy, laying the groundwork for ceasefire talks. For example, since late July, Li Hui, a special representative of the Chinese government on Eurasian affairs, has visited Brazil, South Africa, and Indonesia – key members of the Global South.

China and Brazil also jointly issued the six-point consensus and launched the group Friends for Peace to address the crisis along with other Global South countries.

Meanwhile, Palestinian factions, mediated by China, reconciled in Beijing in July, marking a key step toward peace in the Middle East.

Xi urged early de-escalation to pave the way for the political settlement of the Ukraine crisis and called for a comprehensive ceasefire in the Gaza Strip and a revival of the two-state solution.

People-to-people and cultural exchanges among BRICS countries have been in full swing in recent years, with events such as film festivals, sports games and documentaries building bridges for people to bond.

In late September, the BRICS Civilization Dialogue was held in Kazan, calling for actively practicing the Global Civilization Initiative and taking the BRICS Plus cooperation as the platform to continuously deepen cultural exchanges.

Noting that diversity of civilization is the innate quality of the world, Xi urged efforts to advocate exchanges among civilizations and enhance communication and dialogue to promote the development of all civilizations and strive for harmony among them.

Prosperity through development

In view of BRICS' evolving development needs, Xi put forward the BRICS Plus program at the 2017 summit in China's coastal city of Xiamen, encouraging more participation from other emerging markets and developing nations.

"Under the new circumstances, it is all the more important for BRICS countries to pursue development with open doors and boost cooperation with open arms," Xi said at the 14th BRICS summit in 2022.

As an important economy in the world, China has assisted other developing countries in their economic and social development, playing a vital role in the BRICS cooperation mechanism.

Since its introduction three years ago, the Global Development Initiative has helped make nearly $20 billion in development funds available and launch more than 1,100 projects.

China has announced the upgrading of the South-South Cooperation Assistance Fund to a Global Development and South-South Cooperation Fund and the increase of its total funding to $4 billion, which has supported more than 150 projects. A Global Alliance on Artificial Intelligence for Industry and Manufacturing Center of Excellence has also been established in Shanghai.

The Global South emerges for development and prospers through development, Xi said, urging BRICS Plus countries to make themselves the main driving force for common development.

He added that China will also build a World Smart Customs Community Portal and a BRICS Customs Center of Excellence to welcome active participation by all countries.

https://news.cgtn.com/news/2024-10-24/How-China-advances-future-development-of-the-Global-South-1xXPxSroqNa/p.html 

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SOURCE CGTN