international organizations’ leaders urge for mutual efforts to promote global economic growth

(MENAFN) Leaders of major international economic organizations have emphasized the need for joint efforts to promote global economic growth, recognizing that the world’s development has reached a critical point. Liao Min, a senior official from China's Ministry of Finance, shared these insights during a recent briefing. This call for collaboration is seen as essential to navigating current economic challenges.

A key concern raised by these leaders is the potential harm posed by "decoupling"—a process in which economies become increasingly isolated from one another. There is widespread fear that unilateralism and protectionism will hinder global economic recovery, undermining the benefits of open trade and cooperation. These concerns were voiced by prominent figures, including Liao Min, who pointed out the negative impact that such trends could have on the world economy.

The "1+10" Dialogue, which took place in Beijing, brought together high-level representatives from ten significant international organizations. Among the attendees were Dilma Rousseff, President of the New Development Bank; Ajay Banga, President of the World Bank; Ngozi Okonjo-Iweala, Director-General of the World Trade Organization; and Kristalina Georgieva, Managing Director of the IMF, along with other influential figures.

During the dialogue, participants agreed on the necessity of strengthening global coordination in macroeconomic policies and rejecting protectionism. They called for creating a peaceful and stable environment for development, advocating for the resolution of differences through constructive dialogue and consultation, rather than confrontational approaches. This approach was seen as crucial for fostering international cooperation.

The leaders reaffirmed their commitment to economic globalization and multilateralism, reinforcing the idea that these forces are crucial and unstoppable. The development of economic globalization and multilateralism was acknowledged as a positive and irreversible trend that should be nurtured to ensure continued progress and prosperity worldwide.

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