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Wang Yi: The World Today Is Faced with Three Types of Deficit Problems
2018-06-04

On June 4, 2018 local time, when attending the Formal Meeting of the BRICS Ministers of Foreign Affairs in South Africa, State Councilor and Foreign Minister Wang Yi expressed that the world today is witnessing unprecedented changes in a century. In terms of challenges, there are three types of deficit problems.

First is governance deficit. Increasingly prominent global challenges and the lack of effective global countervailing means, together with rising unilateralism and protectionism, have been striking the global governance system and multilateral mechanism.

Second is trust deficit. Increasing international competition and friction, intensifying geopolitical game and reemerging cold war mentality and means have been eroding the trust and cooperation foundation of the international community.

Third is development deficit. Global development imbalances, in particular unfair income distribution and unbalanced development space, are the most pressing issues faced by the international community and constitute the major causes of social upheavals in some countries.

Wang Yi expressed that the BRICS countries shoulder important international responsibilities in safeguarding global stability and advancing common development. We should hold high the banner of political settlement and seek to resolve hotspot issues through dialogue and negotiation. We should uphold the principle of fairness and justice and maintain the basic norms of international relations, and stick to the belief of multilateralism as well as reinforce the central role of the United Nations in international affairs. Under the current situation, the BRICS countries should join hands in addressing new threats and new challenges, so as to not only create a stable environment for self-development, but make due contributions to the world development.

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