Global governance should underline values

By Han Fangming
0 Comment(s)Print E-mail, January 25, 2016
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According to recent media reports, a Chinese senior official from the Ministry of Finance (MOF) was appointed as Chief Administrative Officer (CAO) and Managing Director (MD) of the World Bank Group, and China became the third-largest shareholder in the International Monetary Fund (IMF), which highlights the country's increased role in international organizations.

 [Cartoon/China Daily]

Observers said that these new developments signify a growing role of importance for the country in international financial institutions and that they are a direct result of China's persistent efforts and also result of its increasing contribution to global governance as well as a more just and reasonable order in the international community.

China proposes the idea of "Global Governance"

China first publically voiced the idea of "Global Governance" on Oct. 12, 2015 when President Xi Jinping pushed for the innovative development of global governance through consultation, cooperation and share of benefits, during a CPC Central Committee Political Bureau meeting.

Actually, the idea was first raised in 1990 by Willy Brandt, former leader of the Social Democratic Party of Germany (SPD) and chancellor of the Federal Republic of Germany, aiming to jointly manage global political affairs with all stakeholders against the backdrop of world multi-polarization.

The idea encompasses five core elements, namely, values, regulations, the subject, the object, and the effects. One thing that needs to be clarified is that the goals of global governance are the universal values that exist beyond nationality, ethnicity, religion, ideology and economic development.

For universal values, every country has its own interpretations. The United States stresses democracy and human rights while China advocates common values, something President Xi noted as "peace, development, equality, justice, democracy and freedom" during his speech at the UN headquarters.

In global governance and diplomatic undertakings, the idea of universal values or common values, are something that cannot be ignored. In this connection, China put forward the idea of a "community of shared future," but this still needs to be better defined, interpreted and implemented.

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