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Commentary: CPC-led China offers compass for bridging global governance deficit

2017-October-21       Source: Xinhuanet.com

The Communist Party of China (CPC) is holding its most important meeting in five years to chart the future course of the country at a time when the world is beset with challenges and disorder.

COMMUNITY OF SHARED FUTURE

In such a highly interdependent world, where the fates of all nations, big or small, rich or poor, are tightly intertwined, Xi has proposed that all nations come together to build a community of shared future for mankind.

This vision led to the Belt and Road Initiative, which aims to better connect Asia with Africa and Europe, and to strengthen the industrial capacity of nations in these regions so that they have the fundamentals to grow their economies.

The initiative is also one of China's tools to help eradicate the root causes of terrorism and other extremist elements and build a safer world. As Xi has reiterated, "Development holds the master key to solving all problems."

In the past five years, China has also steadfastly promoted peaceful and diplomatic means to solve many of the global crises like the Korean Peninsula nuclear issue and global warming.

Improving the post-war global financial system is critical to promoting global justice and balanced development. In this regard, China has played a pioneering role, pushing for quota reforms in the International Monetary Fund and the World Bank.

Xi once said China's ongoing reforms have sailed into uncharted "deep waters" where what is left is mostly the hard nuts to crack. The situation is the same with the rest of the world, if not worse.

Yet that should not be an excuse to turn back or turn against each other. Rather, it should be the reason for all nations to join hands and eliminate the deficit in global governance.

As many foreign leaders and observers have pointed out, China has set an instructive example in this regard.

Editor: Nan

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