World

The United Nations convenes the first Sustainable, Inclusive, and Resilient Global Economic Summit

2025-09-26   

The first United Nations Sustainable, Inclusive and Resilient Global Economic Summit was held on the 24th at the United Nations headquarters in New York. The attending representatives jointly discussed how to address the challenges faced in the field of development financing, called for reforming the global financing framework, practicing multilateralism, and increasing the voice of developing countries. In his opening speech, UN Secretary General Guterres said that in order to address the challenges facing the world today, the international financial architecture needs to be reformed. He said that the proportion of wealthy countries in the global economy is slowly declining, the proportion of emerging economies is increasing, and many countries are being left behind. In addition, the scarcity of public resources and unfair systems also make reform inevitable. At the summit, the President of the 80th United Nations General Assembly, Annalena Berk, stated that given the funding gap for the Sustainable Development Goals reaching $4 trillion per year, the UN's recommendations for international financial reform are very clear, including giving developing countries a greater voice in international financial institutions. The President of the United Nations Economic and Social Council, Locke Tapa, believes that this summit aims to strengthen the systemic connection between the United Nations and international financial institutions. The global trade friction is eroding people's trust in the multilateral trading system, and our task is to rebuild trust... which also means ensuring that reforms are inclusive, fair, and legitimate. Kristalina Georgieva, Managing Director of the International Monetary Fund, believes that the global economic system is undergoing restructuring in various ways. By the eve of 2030, the proportion of global public debt to GDP is expected to approach 100%, and many countries will lose fiscal space. Therefore, structural reforms are needed to unleash more private sector investment power. This is the scene of the Sustainable, Inclusive, and Resilient Global Economic Summit captured on September 24th at the United Nations headquarters in New York. Xinhua News Agency reporter Wu Xiaoling, photographed by the Director General of the World Trade Organization, Isabella, who stated that the global trading system needs to be deeply reformed, and "we should allocate scarce resources more effectively". South African President Ramaphosa called for active coordination among the African Union, G20, international financial institutions, and other global financial entities. He stated that global rules must be jointly formulated by all member states, not just a few, to truly fulfill the commitment of 'leaving no one behind, leaving no country behind'. Canadian Prime Minister Carney warned that "multipolarity without multilateralism will lead to chaos." The Iraqi representative pointed out that global economic governance is still dominated by a few economies, and multilateral development should be implemented globally. The decision-making process should listen more to the voices of developing countries and involve them, which is related to the legitimacy and effectiveness of addressing global challenges. The convening of this summit was first proposed by Guterres in his 2021 report 'Our Common Agenda'. (New Society)

Edit:Yi Yi Responsible editor:Li Nian

Source:www.news.cn

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