Xi's BRICS Business Forum speech offers insights into choices of the times, experts say

BEIJING -- Experts worldwide said that President Xi Jinping's speech offers the international community his insights into addressing common challenges of mankind and promoting win-win cooperation and openness in pursuit of peace, stability and sustainable global development.

As the present-day world is living through drastic changes and a pandemic both unseen in a century, economic globalization has been facing strong headwinds and global development has suffered major setbacks.

"Where is the world headed: Peace or war? Progress or regression? Openness or isolation? Cooperation or confrontation? These are choices of the times that we are confronted with," Xi said, referring to those humanity's common challenges and sharing his thoughts on what the world should do to overcome those challenges, in his keynote speech titled Keep Abreast of the Trend of the Times to Shape a Bright Future at the BRICS Business Forum held on Wednesday.

MEETING COMMON CHALLENGES

"Despite changes in an evolving global environment, the historical trend of openness and development will not reverse course, and our shared desire to meet challenges together through cooperation will remain as strong as ever," Xi said in his speech. "We should rise to challenge and forge ahead with resolve toward the goal of building a community with a shared future for mankind."

Noting Xi's emphasis on jointly maintaining world peace and stability, Stephen Perry, chairman of Britain's 48 Group Club, said: "the world is faced by a crisis again and must ask itself if the old ways work in a crisis. The answer is that the world is still not able to function in a united way in a crisis. It needs more than just a few words. It needs a guiding principle and then detailed implementation agreements."

John Ross, former director of Economic and Business Policy of London, said Xi's speech "succinctly summed up the present international situation and the potential role of BRICS."

The speech, he added, not only "expressed the position of China but also of an increasing number of countries."

Calling for promoting extensive consultation and joint contribution to deliver shared benefits, enhancing global economic governance, and increasing the representation and say of emerging markets and developing countries in his speech, Xi said, "This will ensure that all countries enjoy equal rights, follow the rules as equals, and share equal opportunities."

John Pang, a senior fellow at New York-based Bard College, said Xi's address articulates "how equality, democracy, and fairness among nations should be practiced in calling for equal rights, equal rules and equal opportunities."

"He's saying this in the context of standing up for the rights of developing countries ... behind this is a call for a just, fair, multipolar world order," Pang said.

DEVELOPMENT HOLDS THE KEY

"Today, the global development process has hit major roadblocks, the momentum of international development cooperation is being weakened, and development gap between the North and the South keeps widening," said Xi, urging that "We should respond to people's concerns, pursue the larger interests of all countries, and steer global development to a new era to deliver benefit to all."

Cavince Adhere, a Kenya-based international relations scholar, said Xi's emphasis on helping developing countries speed up development of the digital economy and green transformation is of great significance to African countries.

Projects contracted by Chinese enterprises in Africa have greatly promoted the development of local industry and commerce and created a large number of jobs, Adhere said, adding that China has always stood shoulder to shoulder with African countries on the path of low-carbon and sustainable development.

Thanks to China-Africa cooperation, Africa's process of green transformation has been accelerating, Adhere said.

Kim Jin-ho, a professor of politics and diplomacy at South Korea's Dankook University, said it is the right direction for all countries to pursue common development and prosperity through mutual benefit and win-win cooperation, and only in this way can people of all nations harvest real benefits.

GLOBALIZATION REMAINS THE TREND

For some time, economic globalization has faced headwinds and countercurrents. Some countries attempt to decouple with others, sever supply chains and build "a small yard with high fences," Xi said. There is widespread concern in the international community that should such a tendency continue, the global economy will become compartmentalized and mutually exclusive.

At this critical juncture, Xi stressed in his speech that economic globalization is a response to development of productivity and, as such, represents an unstoppable historical trend.

"Anyone who attempts to turn back the wheel of history and block others' way will only have his own path blocked," said Xi.

Liang Guoyong, a senior economist with the United Nations Conference on Trade and Development, said Xi's address illustrates that inclusiveness, openness and integration are the basic features of international economic and trade relations in the context of economic globalization, and the attempt to decouple with others and sever supply chains will harm others and themselves.

Jose Ricardo dos Santos Luz Junior, CEO of Sao Paulo-based company LIDE China, said China has always offered win-win options against "a small yard with high fences," and provided a pragmatic approach for mutually beneficial cooperation.

China has been playing a key role in building multilateral forums and improving the global governance system, he said.

Lim Heng, vice-president of the Cambodia Chamber of Commerce, said the important propositions put forward by Xi demonstrate China's firm determination to build a community with a shared future for mankind.