Global Development Initiative: An International Public Goods to Promote Common Development

Wang Lei*

Bureau of International Cooperation, Chinese Academy of Social Sciences (CASS)

Abstract: The world today is facing turbulence and change, and global developmentis at a crossroads. At this critical juncture, President Xi Jinping put forth the GlobalDevelopment Initiative (GDI) with the theme “implementing the 2030 SustainableDevelopment Agenda for more robust, greener and healthier global development” at the76th General Assembly of the United Nations, which sheds light on the direction of globaldevelopment. The GDI, proposed by China, has galvanized support from the internationalcommunity as an international public goods to promote common development. Followingthe historical trends of human development, the GDI breaks through the limitations ofthe hegemonic stability theory and the free-riding curse to expand and innovate thetheoretical perception of international public goods with the right approach to principlesand interests. With a people-oriented approach and the basic principles of green andinnovative development, the GDI both addresses urgent challenges and attaches importanceto enhancing development capabilities and creating supporting conditions to offer a holisticsolution to global challenges. Through the implementation of multiple pathways underinternational cooperation, the GDI will build a consensus on global development, increasethe momentum of global development, and play an important role in creating a communitywith a shared future for mankind.

Keywords: Global Development Initiative (GDI), common development, internationalpublic goods

JEL Classification Code: F02, H87

DOI: 10.19602/j.chinaeconomist.2022.07.01

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