JOHANNESBURG, June 26 (Xinhua) -- South African Minister of International Relations and Cooperation Ronald Lamola on Thursday expressed concern over the current state of the global economy, highlighting geopolitical challenges and revised gross domestic product (GDP) figures from organizations like the International Monetary Fund.
"We meet today at a time of profound geoeconomic tensions that continue to weigh on the global economy. The African economies, and indeed here at home, we also face various headwinds," Lamola said during the High-Level Session of the third G20 Sherpa meeting.
The minister noted that given the challenges the global economy is grappling with, the G20 meeting was significant in addressing them. He further said rivalries among countries and what he called "proxy conflicts" are driving economic decoupling, noting that South Africa's stance is opposed to such conflicts.
"These international competition dynamics are exacerbating fragility in vulnerable regions while also weakening multilateral institutions that underpin the rules-based international order," he said.
Lamola also decried the violation of state sovereignty. "As South Africa, we have adopted an anti-war stance. This is because we know too well that war offers no victors, only victims. Double standards in diplomacy and the paralysis at the UN Security Council have crippled conflict resolution, mediation and peace efforts," he added.
The third G20 Sherpas meeting will conclude on Friday. ■
