Xinhua Commentary: G20 needs unprecedented solidarity, cooperation to weather global crises

BALI, Indonesia, Nov. 13 (Xinhua) -- History is replete with crises from which the world emerged a safer and better place, and those critical times have demonstrated that global unity and cooperation is a critical force in turning the tide.

Across the planet, a prolonged COVID-19 pandemic continues to wreak havoc. The global economy is tottering towards the precipice, and resurgent protectionism, unilateralism and hegemonism pose a grave threat to world peace and development, not to mention other pressing planetary challenges such as climate change.

As leaders of the world's 20 major economies prepare to meet in Bali, Indonesia, the importance of them sending a clear message of upholding solidarity and rejecting a zero-sum mindset and bloc confrontation cannot be overstated.

The Group of 20 (G20) Bali summit theme, "Recover Together, Recover Stronger," strikes a note of realism that only by galvanizing and synergizing international efforts will humanity be able to weather the formidable challenges at present and prosper in the future.

The Bali summit comes as fears of economic recession are haunting many parts of the world. While numerous factors are combining to create a bleak global economic outlook, some countries' dangerous attempts to sow division and form exclusive, small circles and blocs should be major cause for concern.

The world also requires these leading economies to strengthen macroeconomic policy coordination now more than ever. Certain developed country is currently making aggressive monetary policies without taking enough consideration of their impact in other parts of the globe, especially on the developing world.

A stronger global economic recovery necessitates win-win cooperation and greater openness. As the world's leading economies, the G20 countries need to send a clear message of opposing unilateralism, protectionism and the so-called "decoupling" fallacies.

They should also commit themselves to building an open world economy and facilitating the free flow of talents and technologies, crucial factors in fostering new growth drives in any strong and sustainable recovery.

The Bali summit comes as the world is still in the throes of a ravaging pandemic. The nearly three-year global fight against COVID-19 should serve as a stark reminder of how interconnected the world is. In the face of a common enemy, no one is safe until everyone is safe.

COVID-19 will certainly not be the last global health crisis. With their joint influence, the G20 should take the lead in jointly strengthening global health resilience and assisting in making the global health system more inclusive, equitable, and crisis-responsive.

If history is any guide, humanity's future depends on solidarity and overcoming fault lines in difficult times. All countries are riding in a giant ship on which their future hinges. That is how they can be strong enough to brave a storm together.

Standing at a crucial crossroads in human history, the world's major economies bear significant responsibilities to stay on track. Committed to sharing its development opportunities with the rest of the world, China walks its talk on opening up and cooperating with the rest of the world.

At the opening ceremony of the fifth China International Import Expo early this month, Chinese President Xi Jinping said China would work with all countries and all parties to share opportunities in its vast market, from its institutional opening-up, and from deepened international cooperation.

"China is ready to work with all countries to practice true multilateralism, build more consensus for openness, jointly overcome the difficulties and challenges confronting global economic growth, and make sure that our commitment to openness will bring about broad prospects for global development," Xi said.

Humanity is at a critical juncture once more, and all eyes are on those in the lead. The G20, which accounts for about two-thirds of the world population and represents more than 80 percent of world gross domestic product and 75 percent of international trade, should respond to the call and work together to secure global economic recovery and prosperity.