Chinese President Xi Jinping Presents Vision for a Multipolar World Order
Chinese President Xi Jinping unveiled his vision for a "multipolar and inclusive" world order at the Shanghai Cooperation Organization (SCO) summit in Tianjin. The goal is to establish a more just and equitable international governance system, giving emerging countries a greater voice and reducing dependence on Western-dominated institutions such as the World Bank and the International Monetary Fund (IMF). Xi Jinping emphasized that the SCO can become a pillar of this new architecture, strengthening both regional security and economic cooperation.
Key Initiatives to Support the New Orientation
To support this direction, China announced:
- 2 billion yuan (approximately $280 million) in donations in 2025
- 10 billion yuan (nearly $1.4 billion) in loans over three years through the SCO Interbank Consortium to finance development projects
About the Shanghai Cooperation Organization (SCO)
Founded in 2001, the SCO now has 10 member states, including Russia, India, Iran, and Belarus. Over 20 leaders participated in this summit, which was also marked by China's proposal to create an SCO development bank, a sign of Beijing's desire to strengthen its economic and political influence.
