Significance of Global Governance Initiative

Chen Jingyu 

The world today is undergoing profound changes unseen in a century, marked by significant shifts in the international balance of power and an ever-increasing array of global challenges. Meanwhile, the traditional global governance system is increasingly revealing a deficit in both representativeness and effectiveness. In response to the "question of our times"—where is the world headed?—China’s Global Governance Initiative offers a systematic and pragmatic approach.

The existing global governance system confronts deep-seated systemic challenges. First, the deficit in representativeness has become acute. As a product of the post-World War II order, the current framework fails to reflect the collective rise of the "Global South." Structural imbalances in voting power and quota allocations within key international financial institutions undermine their legitimacy. Second, the deficit in authority is intensifying. The tendency of certain countries to place domestic law above international law—frequently evidenced by unilateral sanctions and "long-arm jurisdiction"—erodes the international rule of law.

Furthermore, the emergence of exclusive circles and bloc confrontation undermines multilateralism and the authority of the United Nations. Third, the deficit in effectiveness is increasingly manifest. Existing mechanisms lack the agility required to address intertwined challenges such as climate change, public health, and AI governance. Consequently, progress on the 2030 Agenda for Sustainable Development has stalled, eroding mutual trust within the international community.

The Global Governance Initiative is predicated on upholding fundamental principles and breaking new ground: maintaining the purposes and principles of the UN Charter while advocating for an equitable evolution of the international system. Its core pillars include: preserving sovereign equality and safeguarding the independent choices of development paths by all nations, particularly developing ones; adhering to the international rule of law while resisting "double standards" and the instrumentalization of rules; practicing true multilateralism in opposition to unilateralism and "pseudo-multilateralism"; upholding a people-centered philosophy to ensure governance benefits all; and emphasizing action-oriented solutions to practical global issues. China has operationalized these principles through the Belt and Road Initiative, the Asian Infrastructure Investment Bank, and its mediation of the Saudi-Iranian reconciliation.

Since its inception, the Initiative has garnered international recognition exceeding expectations, demonstrating robust diplomatic appeal. It has resonated particularly with the "Global South," which views it as a strategic roadmap for amplifying the voice and representation of developing nations. The establishment of the "Group of Friends" mechanisms at the UN signifies a move toward institutionalized coordination. Notably, the initiative has also received rational engagement from Western actors; countries such as France and Spain have acknowledged its pragmatic orientation and commitment to multilateralism. This reflects a burgeoning consensus on the necessity of a rules-based cooperative system amidst global volatility. The initiative is transitioning from concept to action: in the security domain, the Saudi-Iran rapprochement demonstrates the viability of dialogue-based dispute resolution; in development, synergies with the Global Development Initiative and the Belt and Road are accelerating the sustainable development agenda.

The epochal significance of the Global Governance Initiative is both multidimensional and profound. Historically, it reaffirms and revitalizes the purposes and principles of the UN Charter in the new era.

Theoretically, its core principles critique and transcend Western-centric governance paradigms, offering a novel intellectual framework. Practically, it provides an actionable framework for addressing pressing global challenges, supported by the feasibility of China’s pragmatic cooperation.

The Global Governance Initiative does not seek to replace the existing international system but to reform it through the principle of "extensive consultation, joint contribution, and shared benefits." By steering the international system toward greater equilibrium and inclusivity, it advocates for dialogue over confrontation, cooperation over coercion, and inclusivity over exclusion. As a conceptual framework for a shared future, it offers a pathway toward building a community with a shared future for mankind.

(The author is a scholar at Sichuan International Studies University College of Finance and Economics)