In recent times, a remarkable recovery trend has emerged within the global economyThe United Nations has revised its economic growth forecast for the world in 2024, raising it from an earlier prediction of 2.4% to 2.7%. For 2025, this forecast has been adjusted from 2.7% to 2.8%. Additionally, the World Trade Organization’s latest report on global trade statistics and outlook predicts a 2.6% increase in global merchandise trade volume for 2024, with an expected rise of 3.3% in 2025. The International Monetary Fund (IMF), in its updated World Economic Outlook report, anticipates global economic growth of 3.2% for this year, consistent with its previous forecast in April, and has revised the growth rate for 2025 from 3.2% up to 3.3%.
Nevertheless, the fundamental underpinnings of global development remain precariousThe persistent negative effects of high interest rates and inflation abound
Meanwhile, the monetary policy expectations of major economies remain uncertain, leading to a lack of confidence in global developmentThe ability to tackle significant global challenges is also lacking, leaving the world in a more complex situation than in the pastAs we advance towards the deadline of the United Nations' 2030 Sustainable Development Goals, we are left with only six yearsIf effective global cooperation and increased investment are not pursued, the progress made thus far may face significant reversals.
Under these new circumstances, there is an urgent need to restore trust, boost confidence, and enhance cooperationIt is essential for all parties to join forces to inject greater certainty into global development.
Preserving the thematic prominence of development is crucialDevelopment remains an enduring theme for humanity, embodying the aspirations of nations toward a better quality of life
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It is imperative to counter the political marginalization of development issues and to inject new momentum into the UN's 2030 Agenda for Sustainable DevelopmentWe must advocate for the complementary advantages of all parties, facilitating a collaborative approach to developmentUpholding the principles of economic globalization is essential; the focus should be on safeguarding free trade and multilateral systems while promoting interconnectivity and integrative developmentBuilding robust partnerships to address critical areas such as poverty alleviation, food security, industrialization, and employment is of utmost importanceImproving the developmental conditions of emerging markets and developing countries through capacity building will broaden developmental horizons, create opportunities, and foster a global development communityTogether, we can increase the global economic pie.
Moreover, adhering to a collective direction for cooperation is paramount
The array of challenges faced today cannot be tackled independently by any single nation; nor can any nation thrive in isolationCollaborative efforts among all nations are required to navigate these challenges effectivelyBuilding understanding and trust through proactive collaboration will bolster global confidence in problem-solvingWe must not draw lines based on ideology, nor should we create divisions and conflicts artificiallyA united front against de-globalization and the over-emphasis on security must be maintained while embracing a concept of security that is comprehensive, cooperative, and sustainableNo country’s interests should overshadow those of others, nor should we incite factionalismInstead, we must continuously strengthen the foundation for global unity and cooperationIt is vital to uphold a UN-centered international system, enhancing both North-South and South-South collaboration to achieve shared prosperity and development.
Innovation must be at the forefront, serving as a guiding force
With the onset of a new wave of technological revolution and industrial transformation, we need to seize this historic opportunity to convert scientific research into productive capacity, thereby generating fresh economic growth momentumAdapting to the accelerated transition toward a green, intelligent, and digital global economy, we should expedite global collaboration in emerging sectors and promote a collective shift to clean energyStrengthening global cooperation in preventing infectious diseases will also play a vital role in addressing the challenges of an aging populationEstablishing a globally accessible technological innovation framework is crucial, allowing innovative policies to serve developmental goals while ensuring that the fruits of innovation are shared benefically across humanity.
Furthermore, it is imperative to uphold the principle of mutual benefit in global governance
We must insist on the core principles of discussion, joint construction, and shared responsibilities in global governance, cherishing the win-win philosophy and steering clear of a zero-sum mindsetElevating the levels of political communication, economic cooperation, and security trust is essential, promoting equality, inclusiveness, and mutual respectWe should refine governance mechanisms in critical areas such as trade, climate change, energy, essential minerals, and food; innovate governance capabilities in unexplored domains such as oceans, space, polar regions, and cyberspaceIt is vital to resist the attempts by certain countries to manipulate global governance for their own selfish gains, pushing for adaptive governance rules that ensure all nations can benefit from technological advancementsA focused examination of the impact of artificial intelligence across a broad range of industries is required to emphasize a human-centered approach that drives overall well-being
Within a UN framework, strengthened governance rules on artificial intelligence can be established, focusing on creating an open, fair, and effective governance system.
China's ongoing development is set to imbue the global economy with greater stability and certaintyAs the largest trading partner for over 120 countries and regions, China contributes nearly 30% to global economic growth annuallyIt continues to deepen reforms, promoting modernization through quality developmentChina will progressively enhance institutional openness, allowing the mutual exchange and integration of domestic and international regulationsFurthermore, the vast swathes of opportunity offered by China's development is generating immense momentum for the global economy, benefitting states anew.
Initiatives such as China's Belt and Road Initiative are emerging as vital global public goods and cooperative platforms for development