Report Launch: A timely reminder on “Rebalancing Global Governance: Opportunities for China and G20 beyond 2015”Feb 25, 2016
(N.B. Alain Noudehou was China UN Resident Coordinator & UNDP Resident Representative from 2014-May 2016)
The United Nations Development Programme (UNDP) China today released Rebalancing Global Economic Governance: Opportunities for China and the G20 Beyond 2015, a major report which recommends that the Group of Twenty (G20) use the opportunity of the Chinese Presidency this year to work together to deliver a development-focused agenda, especially now that the 17 Sustainable Development Goals (SDGs) have been agreed by UN Member States in September 2015.
The report – initially released in English in June 2015 and now available in Chinese – makes 9 recommendations for action before and up to the G20 Summit in Hangzhou in September this year, that chime with China’s own domestic agenda – for instance the New Normal, the shift towards innovation and structural reform – as well as the needs of developing countries. The recommendations also take into account the fact that, unlike their predecessor the Millennium Development Goals, the Sustainable Development Goals also apply to rich countries, many of whom are G20 Members.
The recommendations are clustered into three main areas:
1) To support inclusive and green growth – i.e. to orient their domestic policies and investment as much as possible to not just boost economic growth but also to boost green infrastructure, business and innovation, and benefit the poorest people domestically;
2) To promote and support the global development agenda – i.e. to publish information on how their national strategies align with Sustainable Development Goals as soon as possible, providing an example for and helping developing countries to do the same, including through improved data collection;
3) To create a global economic architecture that is fit for purpose – i.e. to create new global rules and institutions – such as related to taxation or to investment – that benefit and give the biggest voice to the poorest people internationally.
Speaking at the report’s launch, UNDP China Resident Representative Mr. Alain Noudehou noted that “The SDGs defines a new global roadmap for our future – an opportunity for all of us to reinforce our commitments for a more sustainable, inclusive and peaceful world.” He highlighted how China can help address related challenges given its position as the second largest economy and the biggest developing country in the world. He observed that “the timing of this report is especially opportune as China, in its role as President of the G20, attaches great importance to keeping development at the center of international cooperation discourse”.
Vice-Chairman Wei Jianguo from CCIEE welcomed the launch of the Chinese version of the report, remarking one of its key recommendations on how “China should focus on the convergence between the domestic development agenda and the global agenda, in order to promote “win-win” cooperation on a global scale.
Although the report is primarily oriented toward Chinese policymakers and practitioners, China's present growing global engagement makes it of great relevance to governments, academia and businesses in the wider international community. It not only explores China’s growing global engagement and how it might proceed in the restructuring of global economic governance, but also encourages continued and strengthen collaboration among China and the rest of the world to produce knowledge to ensure delivery of the priorities of inclusive and sustainable economic development.
President Chen Dongxiao from SIIS reflected the value of the research, stressing that “The report offers intellectual support to both the 2016 G20 summit in Hangzhou and the implementation of 2030 Agenda for Sustainable Development”
The report was jointly published by UNDP, the China Center for International Economic Exchanges (CCIEE) and the Shanghai Institute for International Studies (SIIS). The launch took place in the margins of the G20 engagement group meeting Think Tank 20 (T20) event on “Multilateral Development Banks and G20 Development Agenda”. Participants at the event include scholars from top think tanks as well as politicians, experts and representatives from several international organizations.