Since there is no such thing as a world government, multilateral mechanisms, with their inclusiveness and effectiveness, have become important frameworks for global governance.

Over the past several decades globalization has enhanced integration among countries in economic, political, social and cultural aspects, but also magnified certain local problems to the transnational level, which may give rise to new global issues.

To tackle global issues, multilateral mechanisms are the best solution.

Most multilateral mechanisms contain considerable number of member states and stress equal status among them. International affairs are resolved through negotiations instead of being decided by one or two powerful countries. Interests and objectives of member states are all accommodated, which helps reach consensus, fight against unilateralism and promote international cooperation. Since a large number of entities are involved, the consensus or rules of multilateral mechanisms are readily accepted, and thus problems are easier to solve.

The majority of current multilateral mechanisms were established after World War II, and have long played a positive role in addressing global issues and ensuring the world's economic stability and development. But as time passes by, some of these mechanisms have run into challenges.

Some are faced with the danger of being weakened. For example, if a certain country fails to abide by the purposes and principles of the UN Charter, its actions may expose other countries and regions to the risk of conflict and war.

The WTO is another example; its free trade principles are often challenged , which leads to damage to the world's open economic system, rising trade protectionism and slowdown in economic recovery. Therefore, the international community should reiterate the need to follow the purposes and principles of these multilateral mechanisms and defend their position and role in global governance.

Some multilateral mechanisms have failed to transform their governance structure in line with the change in the world's economic and political landscape. As a result, they are now not representative and inclusive enough. As emerging and developing economies become more important in the world's economy, their role in global governance can no longer be ignored. But since some multilateral mechanisms were established long before and are dominated by developed economies, emerging nations often find it hard to get a voice compatible with their economic strength and contribution.

In reality, reforms are often slow. The IMF, for example, approved a plan on reforming its share and governance structure in 2010, but the plan was passed by the US Congress at the end of 2015 and as a result, came into effect only in 2016.

The role of some multilateral mechanisms has been impaired in global governance as they failed to upgrade their functions to cope with the challenges and uncertainties of the world's economy.

For example, the IMF did not prove capable of preventing a crisis, failed to control fluctuations and was even criticized for the negative part it played in crisis relief.

Similarly, the WTO is facing an unprecedented crisis as its dispute solving mechanism is challenged, its clauses of security exceptions and unilateral measures are abused, and negotiations on some agendas progress slowly.

To solve such problems, we need to improve and consolidate multilateral mechanisms as soon as possible.

In particular, issues concerning war, conflict, environmental protection, climate change, international financial fluctuations, and trade and investment protectionism are constantly emerging in recent years. They transcend borders of countries and regions, cannot effectively be solved by one or several nations, and can only be dealt with through extensive and indepth international cooperation by all countries concerned.

China is a staunch champion of multilateralism and has been defending it with concrete actions. As countries become more domestic-focused and unilateralism as well as protectionism are rising, China's support for, and promotion of, multilateralism is more important than ever, and efforts could be made in the following aspects.

First, China promotes an open global economy. Openness is one prominent feature of multilateralism. As the world is now at the crossroads of openness, cooperation and reform or isolation, seclusion and conservatism, China, as a major responsible country, pushes forward reform and opening-up with steadfast actions. It lowered tariffs on some imported commodities and held the first China International Import Expo in 2018, and enacted the Foreign Investment Law in March 2019.

In his speech delivered at the closing ceremony of the China-France Global Governance Seminar in March 2019, Chinese President Xi Jinping stressed that we should safeguard the UN’s authoritative role in multilateralism, give full play to the constructive role of such multilateral mechanisms as the WTO, the IMF, the World Bank, the G20 and the EU, and build a community with a shared future for mankind. This showcases China's resolve to defend multilateral mechanisms and promote economic globalization.

Second, China promotes international cooperation within the framework of the Belt and Road Initiative (BRI) to offer public goods to multilateralism and economic globalization.

Although the BRI was proposed by China, its opportunities and achievements belong to the whole world. Statistics from the National Development and Reform Commission show that by April 2019, six years into its inception, 173 cooperation documents have been signed between China and 125 countries, both developed and developing, and 29 international organizations.

The BRI follows the principles of consultation and collaboration for shared benefits, advocates equality of nations regardless of their size, strength and wealth, and calls for joint actions to deal with global deficits from a global perspective. The BRI represents a major contribution to multilateralism and international cooperation by China.

Third, China takes active part in agendas of the main multilateral mechanisms. As the world's most representative inter-governmental organization with the greatest authority, the UN stands as the flag of multilateralism. China staunchly safeguards the authority and position of the UN, supports its positive role in international affairs and takes part in UN peace-keeping missions and efforts for sustainable development.

China also values cooperation with the G20, will continue to safeguard its role as a major platform for international economic cooperation, and will work to play a constructive part. China has been working with G20 presidencies in macroeconomic policy coordination, global financial governance and sustainable development. China held a successful G20 Hangzhou Summit in 2016 where it contributed Chinese wisdom and Chinese solutions to global economic governance.

At the same time, China supports such highly professional, representative and influential international organizations as the IMF, the World Bank and the WTO to play an active role since they are important pillars of the world's economic stability and development. China supports their efforts at governance structure reform and improving capabilities to play a more positive role in the global economy.

Xiong Aizong is an assistant researcher at Institute of World Economics and Politics, 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.