Experts hail Xi's call for global governance

President Xi Jinping's emphasis on digital and ecological governance, inclusive economic globalization and building partnerships in various other aspects to advance a better future for mankind has been widely acclaimed by experts from around the world.

They added that Xi's vision, as outlined in his speeches at the G20 Summit in Rio de Janeiro this week, for the creation of an equitable global governance system can help improve economic and financial governance and create a framework of inclusive growth that is sustainable and stable.

Atul Dalakoti, executive director of the Federation of Indian Chambers of Commerce and Industry, said that Xi stressed the importance of building a just world based on the principles of multilateralism, which would transform trade and investment while also advancing sustainable lifestyles to achieve harmony between man and nature.

"China would always be a long-term partner of the Global South and would implement the Global Development Initiative and help the least-developed countries by opening its doors wider, including zero tariffs," he said.

Noting Xi's proposals at the G20 Summit, Jack Perry Jr, chairman of the 48 Group and CEO of London Export Corporation, said that as someone deeply engaged in fostering UK-China collaboration, he sees opportunities for British expertise in sustainable agriculture and digital economy infrastructure to complement China's efforts.

"China's growing focus on practical cooperation aligns with what the 48 Group has always advocated: action over rhetoric," he said. "Vertical farming is a solution for landlocked countries, but the outlay of cost to set up stops this technology from being more widespread. This is something countries can work on together to achieve with subsidies."

Perry also said the Global Development Initiative's focus on addressing poverty and food security in the Global South is a necessary pivot. China's 360 billion yuan ($49.7 billion) funding commitment to help advance African modernization signals a deliberate long-term strategy to position Africa as a critical player in the global economy, he said.

This echoes the UK's historical partnerships on the continent, he said.

New development model

"By focusing on infrastructure, education and green energy, there's potential to create a new development model that blends Chinese efficiency with British ethical and innovative approaches."

Michael Schumann, chairman of the German Federal Association for Economic Development and Foreign Trade, noted that Xi, during a meeting with German Chancellor Olaf Scholz on the sidelines of the G20 summit, mentioned the global need to dismantle barriers, a reminder that cooperation, not confrontation, yields the greatest rewards.

Scholz's remarks after meeting with Xi echoed a similar sentiment, adding, "Together, China and Germany can create prosperity for the growing global community and promote peace and security", Schumann noted.

He pointed out that Germany's export-driven economy has long thrived on international cooperation. As China seeks to deepen its global partnerships, the alignment of these two nations' interests offers a powerful opportunity to bridge divides, counter protectionism, and set an example for the rest of the world, Schumann said.

Anis Khayati, an economics professor at the College of Business Administration at the University of Bahrain, said that President Xi's speech at the G20 was important from an economic perspective, as he unveiled many economic goals and expressed his willingness to work with all parties to realize a multipolar world based on equality and inclusive economic growth that benefits everyone.

"In this regard, Xi expressed the hope that the G20 will play a greater role as an important platform for international economic cooperation. Among the goals are combating hunger, (reducing) poverty and inequality, promoting sustainable development, and increasing the reforms related to global governance," he said.

Khayati added that Xi emphasized that building a just world requires mutual respect, equal cooperation and support for developing economies.

The Chinese president "also promoted sustainable production to achieve harmony between man and nature", the professor said.

Jan Yumul contributed to this story.