The resurgence of unilateralism and protectionist measures imposed by certain country represents a "dangerous regression" that threatens the current international order, and Global South countries should strengthen cooperation when responding to the situation, said Dilma Rousseff, President of the New Development Bank (NDB).
Rousseff made the remarks during an interview with China Media Group (CMG) in Shanghai on Monday, commenting on how certain country has undermined global trade rules and governance systems through unilateral actions such as imposing additional tariffs.
"We must not only avoid but also condemn and oppose the use of the law of the jungle where the strong prey on the weak as a guiding principle in international relations. Today, we are living in a very challenging era marked by the retreat of globalization. In this context, protectionism, exchange rate volatility, geopolitical tensions, and the fragmentation of industrial supply chains all threaten the stability of emerging economies and developing countries. Against this backdrop, countries of the Global South have a historic responsibility to strengthen cooperation in order to safeguard their common interests and build a path toward shared development," said Rousseff.
Looking to the future, Rousseff expressed the hope for a new global order built on multilateralism and mutual respect.
"I believe we can build a new world -- one based on a multilateral order and greater cooperation. In this world, we respect one another in all matters. We respect different civilizations, the diverse ways governments choose to govern, and the differences between individuals. This is the kind of world we are capable of creating. To build such a world, we must first have the desire to do so. It takes more than just dreams -- it requires principles and vision," she said.
NDB president denounces unilateralism, urges multilateral cooperation for global stability
NDB president denounces unilateralism, urges multilateral cooperation for global stability
NDB president denounces unilateralism, urges multilateral cooperation for global stability
