WASHINTON, November 19, 2024: Chinese President Xi Jinping announced a series of measures aimed at supporting the “Global South” during his address at the Group of 20 (G20) summit in Rio de Janeiro.
In his first remarks at the summit, Xi outlined eight key actions that China will take to promote global development, including enhancing its Belt and Road Initiative (BRI), which focuses on large infrastructure projects in developing countries.
Xi also revealed that China, along with Brazil, South Africa, and the African Union, is launching an “Open Science International Cooperation Initiative” designed to channel scientific and technological innovations to the Global South.
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He added that China expects its imports from developing countries to exceed $8 trillion by 2030, emphasizing China’s long-standing role as a reliable partner to developing nations.
“China does not seek to be a single player, but hopes that 100 flowers will blossom, working hand-in-hand with developing countries to achieve modernization,” Xi said, according to China’s state news agency, Xinhua.
He reaffirmed China’s commitment to supporting the G20 in facilitating practical cooperation for the benefit of the Global South.
Xi’s focus on the Global South aligns with Brazil’s efforts to amplify the voices of developing economies in multilateral discussions. Brazilian President Luiz Inácio Lula da Silva and other leaders from the Global South are pushing for a larger role in global decision-making.
On Wednesday, Xi will meet with Lula and other leaders in Brasilia as part of his state visit to Brazil.
Brazil has also been advocating for the African Union (AU) to be granted full membership in the G20, following the precedent set by the European Union.
This year, the AU is participating in the summit on behalf of African nations.
The rise of the Global South within the G20 has sparked some concern among wealthier countries but presents a strategic opportunity for China, which has strong economic and political ties with many developing nations, particularly in Africa, where it is a major lender and investor.
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The G20 was created after the 2007–08 financial crisis to include emerging economies in global economic discussions that had previously been dominated by the Group of Seven (G7) industrialized nations.
Representing approximately 85% of global GDP, 75% of global trade, and two-thirds of the world’s population, the G20 has become a key platform for global economic and financial cooperation.
The term “Global South” refers to developing or lower-income countries, primarily in the Southern Hemisphere, and emerged after the Cold War as a replacement for the term “Third World.”