Since the international financial crisis broke out in 2008, many changes have taken place in the world's political, economic and security landscape with emerging markets and developing countries becoming more important forces. Their increasingly critical role is evidenced in three aspects:

First, the transformation from old to new growth engines in the world provides emerging markets and developing countries opportunities for leapfrog development. A new technological revolution is unfolding, represented by artificial intelligence, big data, quantum information and biotechnology. The global industrial revolution, based on new technology breakthroughs, is picking up speed. If the latecomers can deepen reform and strengthen competitiveness in nurturing high-end industries, transform the development mode and optimize the economic structure, they will succeed in securing space in the new technological and industrial revolution.

Second, the international landscape and balance of power are changing at an accelerated pace and the rise of emerging markets and developing countries is unstoppable. Already contributing to 80 percent of the global economic growth, they will account for half the world's total economy in a decade if they maintain growth at the current rate. The rise of these countries is making the international balance of power more equitable, international relations more democratic and the basis of world peace more solid.

Third, with the global governance system being reshaped, the development space for emerging markets and developing countries is being directly impacted. Deep-rooted and structural problems in the world economy are yet to be solved, multipolarization and economic globalization are facing opposition, geopolitical hot spot issues keep emerging, and terrorism and armed conflicts are continued threats. Increasingly fierce unilateralism and protectionism are bringing severe damage to multilateralism and the multilateral trading system. The world needs a sound and stable environment for development and that requires a new global governance and international cooperation system that is equitable, just and based on mutual respect.

Peace, development, open cooperation, innovation and mutual benefits still represent people's common aspirations and they are the trends of the world today. As two large developing countries and permanent members of the UN's Security Council, China and Russia possess considerable global influence and at the same time shoulder the arduous tasks of national development. The world landscape is undergoing major readjustments, and China-Russia relations are at the best time in history. The importance of this relationship transcends the bilateral scope since the two are contributing wisdom and solutions to a new-type of international relations and global governance system.

To push the China-Russia comprehensive strategic partnership to a higher level, the two sides need to enhance cooperation in the following areas:

First, they need to strengthen strategic and political mutual trust, playing a demonstration role for major countries in diplomacy and building a community with a shared future for mankind.

Both China and Russia are at vital stage of national rejuvenation, facing various demands from the international community and the heavy duties of safeguarding independence, sovereignty and territorial integrity. In constructing the comprehensive strategic partnership, China and Russia have transcended the old zero-sum game and Cold War mentality, sought common ground while reserving differences, and presented the world with what good neighborliness should be like. If promoted in the international order and governance system, this spirit of cooperation will greatly reduce confrontation and friction among major countries. As good neighbors whose interests and destinies are intertwined, the two should properly manage their relations, facilitate high-level interactions, cultural exchanges and mutual understanding, help each other like passengers in the same boat and work to build a community with a shared future for mankind. By doing so, China and Russia will, through their own stability and progress, enhance world peace and development, create a landscape of positive interaction, coordinated development, security and stability, and contribute to improved living standards and the welfare of future generations and all parties concerned.

Second, they should strengthen close and effective coordination in international and regional affairs, improving the global governance system and contributing to world peace and stability.

It's the historical mission that China and Russia should undertake to play as major responsible countries in the international community, and the two should be true to the original aspirations of defending world peace and development irrespective of the changes in the world. The two countries also have the obligation to offer international public goods. For instance, the Belt and Road Initiative, proposed by China, has now become a widely received public good and cooperation platform of the world. China and Russia should keep promoting the resolving of international and regional hot spot issues through political processes, resolutely uphold the purposes and principles of the UN Charter, enhance communication and coordination among member states in major global and regional mechanisms including BRICS, the Shanghai Cooperation Organization, Asia-Europe Meeting and Asia-Pacific Economic Cooperation, support the multilateral trading system, oppose unilateralism and protectionism, and push forward the building of a new-type of global governance system and international relations.

Last, they can promote the integration of economic interests, creating conditions conducive to the new technological revolution and injecting new impetus into the expansion of the world market and the steady growth of the world economy.

Despite the ongoing development of economic globalization and sound momentum of emerging markets, the escalating trade protectionism of the United States and increasingly uncertain economic policies as well as various geopolitical risks are all eroding the foundation of economic recovery.

The two economies' huge complementarities mean there is vast potential for cooperation. As the Chinese economy transforms from quick speed growth to high quality development, economic growth may slow down, but its domestic demand is increasing and the need for energy resources and other high-quality products will not decline, so the import market has to further expand.

Against this backdrop, China and Russia can actively strive to build a strategic partnership for energy; deepen cooperation in economy, trade, science, technology, aerospace, agriculture and connectivity; form greater synergy with Eurasia Economic Union through the Belt and Road Initiative; expand the market and promote institutional innovation; strengthen macroeconomic policy coordination and mechanisms for financial risk prevention; promote cooperation in technological innovation and industrial division of labor to contribute to the international value chain and joint benefits of optimized resource allocation.

The author is president of the Chinese Academy of Social Sciences and chairman of Council on China-Russia Strategic Coordination at the Chinese Academy of Social Sciences.

The author contributed this article to China Watch exclusively. The views expressed do not necessarily reflect those of China Watch.

All rights reserved. Copying or sharing of any content for other than personal use is prohibited without prior written permission.