CHINA Wang Yi: 3 types of deficits in the world today

CHINA

Wang Yi: 3 types of deficits in the world today

By Li Zhiwei and Li Yingyan | People's Daily app

06:57, June 05, 2018

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Chinese State Councilor and Foreign Minister Wang Yi addresses the Formal Meeting of BRICS Ministers of Foreign Affairs in Pretoria, South Africa. (Photo: Li Yingyan)

Pretoria (People's Daily) – “The world today is undergoing profound changes never seen before. In terms of challenges, there are three types of deficit problems,” said Wang Yi, Chinese State Councilor and Foreign Minister while speaking at the Formal Meeting of the BRICS Ministers of Foreign Affairs in Pretoria, South Africa on Tuesday. 

The first issue is the global governance deficit. Today, humans face serious challenges from increasing global problems, and yet there is not an effective global response solution. The rise of unilateralism and protectionism continues to attack the system of international governance currently in place. 

The second issue is the trust deficit. International competition and friction continues to rise, and geopolitical games are serious Cold War ideas, and these tools are being used again. The foundation built on trust and cooperation within the international community is eroding.

The third issue is deficit development. Imbalances in global development, especially in areas such as income distribution and space are the biggest problems the international community faces, and have already created social unrest in a few countries.  

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The Formal Meeting of the BRICS Ministers of Foreign Affairs in Pretoria, South Africa, June 4, 2018. (Photo: Li Yingyan)

Wang stressed that BRICS countries have an international responsibility to uphold world stability and promote common development. 

“We should strengthen the importance of political settlement and resolve hotspot issues through dialogue and consultation. We must uphold the principles of fairness and justice, while upholding the basic norms of international governance. We should strengthen multilateralism and the central role of the United Nations in international affairs," he said.

"Under the current circumstances, BRICS should join hands and tackle new threats and challenges. Creating a stable environment is not only for their own development, but also the worlds,” said Wang.

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