01.11.2021 – 02:49
At the beginning of October, the International Monetary Fund lowered its global growth forecast for 2021 to 5.9 percent in its global economic outlook and warned of high uncertainty in the economic recovery.
Against this background, the heads of state and government of the 20 largest economies in the world met on Saturday in Rome, Italy, and tried to get the multilateral platform working again – as is the case at the two summits each year immediately after the global financial crisis in 2008 was.
China, the major engine of growth in the global economy, emphasized the importance of cooperation, inclusion and green development at the 16th summit of the Group of 20 (G20).
Working together to fight pandemics
With COVID-19 still raging in the world, Chinese President Xi Jinping gave priority in his videotaped speech at the first session of the Global Vaccine Cooperation Summit.
He proposed a six-point action initiative for global vaccine cooperation, which would focus on vaccine research and development cooperation, the fair distribution of vaccines, the waiver of intellectual property rights in COVID-19 vaccines, the smooth trade in vaccines , the mutual recognition of vaccines and the financial support of the global vaccine cooperation.
According to the World Health Organization (WHO), inequality in the distribution of vaccines is particularly large: low-income countries receive less than 0.5 percent of the world’s vaccine supply, and less than 5 percent of the African population is fully vaccinated.
The WHO has set itself two goals to get the pandemic under control: by the end of this year at least 40 percent of the world’s population should be vaccinated, and by mid-2022 this proportion should increase to 70 percent.
“China stands ready to work with all stakeholders to improve the accessibility and affordability of vaccines in developing countries and to make a positive contribution to building a global vaccine line of defense,” said Xi.
China has so far provided over 1.6 billion doses of vaccine to over 100 countries and international organizations. In total, China will provide over 2 billion doses to the world throughout the year, he added, noting that China shares vaccine production with 16 countries.
Building an open world economy
In promoting economic recovery, the President stressed that the G20 should prioritize development in coordinating macro-policies and called for global development to be fairer, more effective and more inclusive to ensure that no country is left behind.
“The advanced economies should keep their ODA pledges and allocate more funds to developing countries,” said Xi.
He also welcomed the active participation of other countries in the Global Development Initiative.
Not so long ago, he proposed this global development initiative to the United Nations, calling on the international community to work together on poverty reduction, food security, COVID-19 and vaccines, development finance, climate change and green development, industrialization, the digital economy and connectivity to strengthen.
The initiative is highly compatible with the G20’s goal and priority of promoting global development, Xi said.
Compliance with green development
Meanwhile, tackling climate change is high on the global agenda as Glasgow, Scotland, will celebrate its 26th Sunday.
In this context, Xi urged developed countries to lead by example in reducing emissions. Countries should take full account of the specific difficulties and concerns of developing countries, meet their climate finance commitments, and support developing countries with technology, capacity building and other activities.
“This is vital to the success of the upcoming COP26,” he said.
Xi has on many occasions highlighted China’s stance on global climate policy and expressed China’s strong support for the Paris Agreement, which has enabled important advances on a global scale.
In 2015, Xi gave a keynote address at the Paris Climate Conference, making a historic contribution to the conclusion of the Paris Agreement on global climate protection measures after 2020.
Earlier this month, in his speech at the Summit of the 15th Conference of the Parties to the Convention on Biological Diversity, he emphasized China’s efforts to achieve the carbon peak and neutrality targets.
This year’s G20 Summit took place both online and offline under the Italian Presidency and focused on the most pressing global challenges, with issues related to the COVID-19 pandemic, climate change and economic recovery high on the agenda.
The G20, founded in 1999, to which 19 countries and the European Union belong, is the most important forum for international cooperation on financial and economic issues.
This group accounts for almost two thirds of the world’s population, over 80 percent of global gross domestic product and 75 percent of world trade.
Original content by: CGTN, transmitted by news aktuell