Xi Jinping Announces Support for the "Global South" at G20 Summit with Lavish Spending and Technology Initiatives

Illustration: On March 14, 2011, employees of an Industrial and Commercial Bank of China (ICBC) branch in Huaibei City, Anhui Province, are seen handling cash. (VCG/Getty Images)

People News - During the G20 Summit held in Rio de Janeiro, Brazil, on November 18–19, Chinese leader Xi Jinping sought to project himself as a global leader. Xi unveiled massive financial commitments and technological initiatives to support the "Global South," while emphasizing China’s role in driving the G20 as a platform for international economic cooperation. Additionally, he held meetings with various heads of state, leveraging the opportunity to expand his international influence.

On November 18, Xi announced a series of measures to support the "Global South," reaffirming Beijing’s commitment to its Belt and Road Initiative (BRI) and launching joint technology initiatives aimed at underdeveloped and developing nations.

Xi stated that China, along with Brazil, South Africa, and the African Union, would lead an "Open Science International Cooperation Initiative" to ensure technological advancements benefit underdeveloped and developing countries. "China supports the G20 in conducting pragmatic cooperation that benefits the Global South," he said.

According to Xinhua News Agency, Xi outlined eight measures to support the "Global South," including: An additional 780 billion RMB in financing for the Belt and Road Initiative. 360 billion RMB in funding support for Africa. Expanded unilateral trade openness, offering 100% zero-tariff treatment to all least developed countries (LDCs) that have diplomatic relations with China. Plans to import goods worth over $8 trillion from these countries by 2030.

China also proposed building a Global South Research Center and pledged continued support for development cooperation in poverty reduction, food security, digital economy, and high-tech industries such as modern agriculture, energy extraction, defense, and military technology. Over the next three years, China will work with Africa to promote ten modernization projects backed by financial support.

The "Global South" generally refers to developing countries as listed by the United Nations, but it also includes China and some wealthy Gulf states. In recent years, China and Russia have increasingly used this group to position themselves as champions of developing nations while seeking to expand their political, military, and economic influence.

In addition to promoting the Global South, China used the G20 Summit to bolster bilateral relationships. Xi met with leaders from the UK, Australia, Germany, Mexico, and Brazil, demonstrating China's efforts to strengthen its political and economic clout by increasing support and loans to developing countries.

Upon arriving in Rio de Janeiro on November 17, Xi issued a written statement expressing his anticipation of working with other leaders to promote "a multipolar world."

Xi's approach to this year’s G20 Summit contrasts sharply with last year’s stance.

Last year, the G20 Summit was held in New Delhi, India, and Xi Jinping, for the first time since taking office, was absent from this important gathering. In 2023, China's stance on the Russia-Ukraine war, territorial expansion, "wolf warrior" diplomacy, and economic coercion strained relations with multiple countries. Particularly contentious were border conflicts with India, the ban on Japanese seafood imports over the discharge of treated nuclear wastewater, aggressive rhetoric and military intimidation toward Taiwan, and military expansion in the South China Sea. These actions provoked widespread resentment and protests from various nations. As a result, China faced unprecedented containment on the international stage in areas such as economics, technology, and geopolitics. Its support for Russia further exacerbated tensions, leading to a continued deterioration in U.S.-China relations.

This year, however, faced with a faltering domestic economy and rising unemployment, Xi appears to be signaling a softened stance, reflecting China’s need to navigate its growing domestic and international challenges.