At the press conference held on March 7, Chinese Foreign Minister Wang Yi stated that the Global South’s share of the world economy has exceeded 40%, while its contribution to global growth has reached 80%. Wang emphasized that the Global South has become a key force in maintaining international peace, promoting global development, and improving global governance. As a natural member of the Global South, China continues to strengthen cooperation in the region and promote common development.
In this context, multilateral cooperation mechanisms such as BRICS, initiated under China’s leadership, have accelerated the shared development of the Global South. Established officially in 2009, the BRICS cooperation mechanism operates across a broad spectrum to foster economic growth and make global governance more inclusive. Most recently, Indonesia’s accession to BRICS has further expanded the platform’s influence. Additionally, China is collaborating with Global South countries through initiatives such as the Shanghai Cooperation Organization and the Lancang-Mekong Cooperation to advance joint projects and enhance economic solidarity.
China also plays an active role in maintaining peace with the Global South. Through global security initiatives, it collaborates with various countries to help resolve crises. The diplomatic reconciliation between Saudi Arabia and Iran in 2023, mediated by China, has strengthened stability in the Middle East. Furthermore, China and Brazil’s joint peace initiative on the Ukraine crisis is considered a significant step toward containing the conflict.
In terms of economic development, China leads joint projects with the Global South. Under the Belt and Road Initiative, infrastructure investments have been expanded, and partnerships with financial institutions such as the Asian Infrastructure Investment Bank and the New Development Bank have been strengthened. In 2024, China took concrete steps to promote the economic development of the Global South by granting 100% tariff-free access to all products from over 40 least developed countries.
In conclusion, cooperation between China and the Global South contributes to making the international order more just and inclusive. Global South countries should act in greater solidarity toward shared development goals, thereby making a stronger contribution to world peace, economic growth, and the advancement of global governance.