Let’s join hands to build a more just, equitable global governance system

In September this year, the Shanghai Cooperation Organization (SCO) Summit was held in Tianjin, China, drawing the world's attention to the shores of the Bohai Sea. President Xi Jinping attended the "SCO+" meeting and delivered an important speech, proposing for the first time the Global Governance Initiative (GGI). 

Following the Global Development Initiative (GDI), the Global Security Initiative (GSI), and the Global Civilization Initiative (GCI), this initiative represents another significant public good provided by China to the world in the new era. 

It further enriches the building of a community with a shared future for humanity at both the conceptual and practical levels, injecting more stability and positive energy into a turbulent world with Eastern wisdom.

The proposal of GGI coincides with the 80th anniversary of the victory of the World Anti-Fascist War and the founding of the United Nations. Eighty years ago, the UN emerged from the embers of war with the purpose of maintaining international peace and security, laying the cornerstone of the modern international order and pioneering a new practice in global governance. 

Over the past 80 years, the UN-centred international governance system has provided crucial safeguards for the progress of humanity. The vision of multilateralism with coordination and cooperation as its cornerstone has gained growing popular support and made historic contributions to enhancing human well-being.

However, with the profound shifts in the global balance of power and the growing number of worldwide challenges. The current international landscape is undergoing changes and turbulence. The UN and multilateralism are being challenged. The deficit in global governance continues to grow. Incompatibility and mismatch in the current governance system have become more prominent than ever.

The GGI is a timely response to the hope of the people across the world and provides what the world urgently needs. And it has been warmly welcomed and supported by the international community. The "five core concepts" of the GGI are consistent with the purposes and principles of the UN Charter, demonstrating the core essence of the vision of global governance, which features extensive consultation and joint contribution for shared benefit.

First, imbalance in global governance structure: There's serious underrepresentation of the Global South including emerging markets and other developing countries. 

Second, dysfunction in global governance: The purposes and principles of the UN Charter are not effectively upheld. The resurgence of unilateralism and protectionism severely undermines the functioning of the global governance system with the UN at its core. 

Third, absence of global governance mechanisms: Global governance lags behind the realities of globalisation, leaving a vacuum of rules in new and emerging domains such as the digital economy, artificial intelligence, cyberspace, and outer space. 

In particular, some countries stick to a "we-first" approach and resort to power politics, seeking to replace multilateralism with unilateralism and the post-war international order with so-called "rules of their own making". This has dealt unprecedented blows to economic globalisation and the efforts to promote democracy in international relations. 

The question of how and for what purpose global governance should be carried out has become a shared challenge for all humanity. Building a fairer and more equitable system of global governance has become an increasingly common aspiration of the international community.

Against this backdrop, President Xi Jinping followed closely the profound changes of the world with a deep insight into how history moves forward. He answered the questions posed by the world with responsibility and put forward the Global Governance Initiative. The GGI proposes Chinese solutions for reforming and improving the global governance system, making significant contributions to help humanity overcome the global governance dilemma.

The GGI is a timely response to the hope of the people across the world and provides what the world urgently needs. And it has been warmly welcomed and supported by the international community. The "five core concepts" of the GGI are consistent with the purposes and principles of the UN Charter, demonstrating the core essence of the vision of global governance, which features extensive consultation and joint contribution for shared benefit.

The first concept is, we should adhere to sovereign equality. We should maintain that all countries, regardless of size, strength and wealth, are equal participants, decision-makers and beneficiaries in global governance. We should promote greater democracy in international relations and increase the representation and voice of developing countries.

The second is, we should abide by the international rule of law. The purposes and principles of the UN Charter and other universally recognised basic norms of international relations must be observed comprehensively, fully and in their entirety. The international law and rules should be applied equally and uniformly. There should be no double standards, and the house rules of a few countries must not be imposed upon others.

The third is, we should practice multilateralism. We should uphold the vision of global governance featuring extensive consultation and joint contribution for shared benefit, strengthen solidarity and coordination, and oppose unilateralism. We should firmly safeguard the status and authority of the UN and ensure its irreplaceable and key role in global governance.

The fourth is, we should advocate the people-centred approach. We should reform and improve the global governance system to ensure that the people of every nation are the actors in and beneficiaries of global governance, so as to better tackle the common challenges for mankind, better narrow the North-South gap, and better safeguard the common interests of all countries.

The fifth is, we should focus on taking real actions. We should adopt a systematic and holistic approach, coordinate global actions, fully mobilize various resources, and strive for more visible outcomes. We should enhance practical cooperation to prevent the governance system from lagging behind or being fragmented.

The GGI is highly relevant to our times. It is neither about overturning the existing international order nor about starting anew, but rather serves as a constructive supplement and innovative improvement to the current global governance system. 

Its purpose is to enhance the capacity and effectiveness of the existing international system and mechanisms, making them better aligned with changing realities, more responsive and effective in addressing global challenges, and more capable of serving the interests of all countries, in particular developing countries.

As the saying goes, "The going may be tough when one walks alone, but it gets easier when people walk together." Today, humanity is bound together as a closely interconnected community of shared future. Confronted with risks and challenges, no country can stand alone. Solidarity and cooperation, openness and inclusiveness represent the right path forward. 

As the first founding member state to sign the Charter of the United Nations, China has remained a firm builder of world peace, contributor to global development, defender of the international order, and provider of public goods. 

The Global Development Initiative, the Global Security Initiative, the Global Civilisation Initiative, and the Global Governance Initiative proposed by President Xi Jinping are mutually reinforcing and form an organic whole. Together, they chart the course toward a brighter and more prosperous future for humanity from the dimensions of development, security, civilisation, and governance.

China and Bangladesh, both developing countries and important members of the Global South, share the responsibility of safeguarding world peace and promoting common development. We are entrusted with the historic mission of advancing national development and rejuvenation and meeting our people's aspirations for a better life. We also shoulder the important responsibility of upholding true multilateralism and international equity and justice. 

In the face of new circumstances, the two countries should take the 50th anniversary of China-Bangladesh diplomatic relations as an opportunity to enhance communication and coordination, deepen strategic mutual trust, expand mutually beneficial cooperation, and jointly address common challenges. 

Together, China and Bangladesh can contribute to building a more just and equitable global governance system and work hand in hand to create a brighter future for humanity.

Yao Wen is the Ambassador of China to Bangladesh.

Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinions and views of The Business Standard.