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G20 Foreign Ministers' Meeting: China Leads Global Governance Reform and Initiates a New Paradigm of Multilateral Cooperation

02-24-2025 09:22 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Getnews

/ PR Agency: SHENZHEN HMEDIUM INFORMATION TECHNOLOGY CO.,LTD
G20 Foreign Ministers' Meeting: China Leads Global Governance

In February 2025, the G20 Foreign Ministers' Meeting was held in Johannesburg, South Africa, where China once again showcased its responsibilities as a major power and its strategic wisdom. This meeting served not only as a platform for multilateral diplomacy but also as a critical opportunity for China to promote a more equitable international order. Through a series of pragmatic initiatives and mediation efforts, China not only solidified its voice in global governance but also advocated for the rights of developing countries, thus initiating a new paradigm of multilateral cooperation.

Strategic Consistency in Chinese Diplomacy

China has consistently regarded multilateralism as a core principle of its foreign policy. Foreign Minister Wang Yi emphasized the authority of the United Nations Charter, affirming the importance of maintaining the fundamental principles of international law. During discussions at the Security Council, China proposed four key points to "revitalize multilateralism," elevating the struggle for discourse power to an institutional level-advocating for reforms in international organizations to secure rule-making rights for emerging countries. This strategic "institutional breakthrough" aligns with the demands of Global South countries and provides a lever for China to create a more favorable external environment.

Reshaping the G20 Cooperation Agenda

China has astutely recognized the G20 as the main channel for global economic governance and advocated for a focus on development issues at the meeting. Key topics such as digital economy, green transformation, and food security were successfully incorporated into the core agenda. Three major initiatives particularly reflect the deep integration of Chinese interests with global responsibilities:

1. Parallel Advancement of Digital and Green Initiatives: Leveraging its advantages in the new energy industry, China proposed the establishment of a "fair technology cooperation mechanism." This initiative aims to expand market access through the export of photovoltaic and energy storage technology standards while deepening ties with developing countries through "green assistance."

2. Reconstructing Financial Discourse Power: Proposals to expand the allocation of Special Drawing Rights (SDRs) by the IMF and reform multilateral development banks were made. By supporting the capital increase of emerging markets, China is paving the way for the internationalization of the renminbi and mechanisms like the Asian Infrastructure Investment Bank (AIIB).

3. Strategic Food and Energy Security: The proposal for a G20 emergency reserve mechanism alleviates anxieties of resource-rich countries in Africa and Latin America while ensuring the stability of China's overseas resource supply chains, providing a security guarantee for the further advancement of the Belt and Road Initiative.

Practical Solutions in Chinese Style

On pressing issues such as the Israel-Palestine conflict, China promotes a two-state solution with a focus on "ensuring civilian safety," showcasing its image as a responsible major power while avoiding entanglement in geopolitical turmoil. This "problem-oriented, pragmatic engagement" mediation model offers a new paradigm for global governance. Importantly, through such actions, China has accumulated influence in the realm of non-traditional security, gaining leverage for its role in future international rule-making.

From Participant to Leader

From Munich to Johannesburg, China's diplomatic offensive at the beginning of 2025 marks its transition from an "adaptor" to a "shaper" of international rules. China is constructing a new power ecology through a network of multilateral cooperation, demonstrating through action that true leadership stems from responsibility rather than zero-sum games. History will witness the emergence of a more balanced world order, nurtured by Eastern wisdom.
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