BEIJING, Feb. 24 (Xinhua) -- The world is confronted with severe global governance challenges, said a Xinhua think tank report released on Tuesday.
At present, global changes of a magnitude not seen in a century are accelerating, and the international balance of power is undergoing deep adjustment, said the report titled "Upholding International Justice and Jointly Addressing World Turbulence -- Focusing on China's Solution to Global Governance," released by Xinhua Institute, a think tank affiliated with Xinhua News Agency.
Noting that the world has entered a new period of turbulence and transformation, it said unilateralism, protectionism and hegemonism are on the rise, while deficits in peace, development, security and governance continue to grow rather than recede.
"In global governance, existing international mechanisms are beset by multiple deficiencies," it said.
Problems related to "the authority, representativeness, and effectiveness" of the global governance system have become more pronounced, it said, adding that "the international economic and trade order faces severe challenges, and the global economy lacks sufficient growth momentum."
Major-power competition has become more complex and intense, and development imbalances are worsening, it noted. "While a new round of scientific and technological revolution and industrial transformation is generating fresh drivers of growth, it is also amplifying governance deficits."
"Against this backdrop, reforming and improving the global governance system has emerged as a primary shared concern for the international community," it said. ■
