Global stability is facing increasing pressure as the international order weakens, according to recent observations. These strains are compounded by geopolitical rivalry and economic challenges, impacting countries of all sizes. These observations were shared by Mr. Wong during a trip to China that began on Tuesday, where he is scheduled to meet with National People’s Congress chairman Zhao Leji and Hainan Provincial Committee secretary Feng Fei before continuing to Hong Kong.
China’s Growing Role
Mr. Wong highlighted China’s “critical role” in navigating novel forms of global cooperation. The country has prioritized advancements in science, technology, and innovation, positioning itself at the forefront of digital and green technologies. “China is therefore well positioned not just to participate in the next wave of technological change, but to shape and lead it,” Mr. Wong stated.
China’s influence extends to the creative and digital economies, with growing global interest in its films, music, games, consumer brands, and digital platforms. The country has also contributed to global development through initiatives like the Asian Infrastructure Investment Bank and the Belt and Road Initiative.
Challenges to Global Cooperation
The wars in Ukraine and the Middle East are contributing to a broader instability, driving up food and energy prices, disrupting supply chains, and increasing the risk of a global economic slowdown. Mr. Wong emphasized that these events “are not distant events – they have real consequences for all of us.”
A “worrying breakdown” of institutions and norms that previously provided predictability in international relations is also a concern. This shift towards geopolitical rivalry and zero-sum thinking is making it more difficult to address shared global challenges, including climate change and the responsible use of artificial intelligence.
A Path Forward: Plurilateral Arrangements
In response to these challenges, Mr. Wong advocated for “plurilateral arrangements,” where smaller groups of like-minded partners collaborate. He cited the Regional Comprehensive Economic Partnership, CPTPP, and DEPA as examples of this approach. This is not intended to replace multilateralism, but rather to complement it even as strengthening institutions like the WTO and the United Nations.
Mr. Wong suggested that a landscape of “multiple, overlapping coalitions” is likely to emerge, with different countries working together on specific challenges. He believes that, if well-designed, these coalitions could build a more resilient global architecture.
Frequently Asked Questions
What role is China playing in global development?
China is prioritizing science, technology, and innovation and is well-positioned to shape the next wave of technological change. It’s also contributing to global development through platforms like the Asian Infrastructure Investment Bank and the Belt and Road Initiative.
What challenges are impacting global stability?
The wars in Ukraine and the Middle East, along with a breakdown in international norms and institutions, are creating strains on global stability, driving up prices, disrupting supply chains, and increasing economic risks.
What is a “plurilateral arrangement”?
A “plurilateral arrangement” involves smaller groups of like-minded partners working together, rather than relying solely on traditional multilateral forums, such as the WTO and the United Nations.
As global dynamics shift, how might the balance between multilateral and plurilateral cooperation evolve in the coming years?
