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China Urges Strengthening of Effective Global Governance
China Monday urged the strengthening of effective global governance to ensure that globalization benefits the whole world.
Addressing the general debate of the Second Committee (Economic and Financial) of the United Nations, Chinese Permanent Representative to the U.N. Wang Yingfan said, "The central challenge we face today is to ensure that globalization becomes a positive force for all the world's people."
"In my view, the key issue is to strengthen effective global governance. For this purpose, the current global economic system must be reformed so as to represent the interests of the majority," the ambassador said.
"Globalization should have a human face and proceed in accordance with the rule of law, which is the soul of a just and civilized society, instead of the law of the jungle, where only the fittest can survive," he stressed.
Only by doing so can developing countries' integration into world economy be ensured and will globalization bring common prosperity to the whole humanity, he said.
"The formulation of the rules of the game is crucial to the governance of globalization. To this end, the international community should change the situation where for a long time the decision making power in major multilateral economic institutions has rested in the hands of a minority of countries," the ambassador noted.
"The voice of developing countries should be heard in the decision-making process and they should no longer be in a position of accepting passively rules formulated by others," he said.
The United Nations, as the most universal and most representative organization in the world, must play a central role in governing and regulating globalization, he added.
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