Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
Moscow, September 1 /Xinhua/ — China's new initiative on global governance is based on the ideas of a fair and reasonable economic and political world order, says Oleg Timofeev, associate professor at the Peoples' Friendship University of Russia (RUDN).
“The official launch of the new initiative was preceded by a fairly long period of discussion of its main elements – the ideas of a fair and reasonable economic and political world order, a common destiny for humanity and the previous three global initiatives, of which the Global Governance Initiative is a natural continuation,” Timofeev said in an interview with Xinhua.
According to him, it is no coincidence that Chinese President Xi Jinping put forward the Global Governance Initiative at the Shanghai Cooperation Organization (SCO) summit.
"Firstly, from the moment the Shanghai Five, the predecessor of the SCO, emerged to the present day, this organization has come a long way: from a bilateral to a multilateral format, from a political club to a full-fledged organization, from a subregional to a macroregional structure, from focusing on regional security issues to full-fledged interaction. In recent years, the representation of the Global South states in the SCO has significantly expanded, the protection of whose interests is proclaimed, first of all, in the new initiative of Xi Jinping," noted O. Timofeev.
According to the expert, “China has unique experience in implementing numerous initiatives aimed at solving many international and global problems, demonstrating a fairly flexible approach that involves the use of a wide variety of forms and instruments of international cooperation… Beijing puts forward its own initiatives, which, in turn, receive support from a wide range of states in the Global South.”
O. Timofeev believes that the international institutions created by Western countries, primarily the World Trade Organization, clearly lack the competence and authority to effectively counter negative trends in the global economy. Therefore, as the Xinhua interlocutor emphasized, “The Global Governance Initiative will be more focused on multilateral economic institutions that have proven their effectiveness and are characterized by more democratic procedures for making and implementing decisions, such as the G20, the Belt and Road Initiative, BRICS, the SCO, and interregional cooperation dialogues.” –0–
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