Multilateralism is the right way forward

Multilateralism or unilateralism? Globalization or protectionism? China definitely chooses the former in both instances. It is not just because China has benefited a great deal from globalization and multilateralism. It is also because globalization has proved to be the way for emerging economies to have a greater say in global governance.

To be exact, it is globalization that has made it possible for developing countries to see a ray of hope that their concerted efforts can make a difference when it comes to reform of the global governance system, which has long been tilted in favor of the developed countries.

That explains why China has always been a staunch advocate for globalization and multilateralism. To this end, China has also put forward the Global Development Initiative, Global Security Initiative and Global Civilization Initiative, which together set out a pathway toward realizing such a community.

China has put into practice the initiatives it has proposed, showing the world with its actions that it means what it has said. This year marks the 10th anniversary of the Belt and Road Initiative, which has become a recognized global public good. The cumulative value of imports and exports between China and Belt and Road partner countries was $19.1 trillion from 2013 to 2022, with an average annual growth rate of 6.4 percent. Cumulative two-way investment between China and partner countries was $380 billion during the same period, including some $240 billion from China.

With its cooperation with countries in the Shanghai Cooperation Organization and BRICS countries, China is doing whatever it can within its means to strive for common prosperity and security.

All these can be understood as approaches China has adopted to pursue multilateralism, which it believes is the way countries with different political systems and national conditions can cooperate on the basis of equality, mutual benefit, mutual respect for sovereignty and territorial integrity, and noninterference in each other's internal affairs.

Unilateralism will only result in confrontation and conflicts. Protectionism will only disrupt the mutually beneficial global supply chains and industry chains that have been formed.

China believes that economic cooperation between countries should never be politicized, and differences should be settled through talks and negotiations, and hegemony of any kind and by any country should be opposed.