The Progressive Development of International Legal Principles and Rules for A New International Economic Order

16 October 2000

Mr. Chairman:

At the dawn of the new century and the new millennium it is of positive significance for the Sixth Committee to discuss the Item of the Progressive Development of International Legal Principles and Rules for a New International Economic Order at this year's session of the General Assembly. The Chinese delegation, with a frank, open-minded and positive attitude, wishes to make a joint effort with delegations of all other countries for a serious and useful deliberation and study of this item.

The current international situation on the whole is moving towards relaxation, characterized by a rapid advancement of a trend towards a plural world and a globalized economy anchored on the giant strides achieved by modern science and technology with the information and life science and technology at its core. All this has given rise to new opportunities and possibilities for economic development of all countries. We must at the same time, however, be clearly aware of the lack of a fundamental transformation of the unjust and unreasonable international economic order. The advancement of modern science and technology and the economic globalization have yet to extensively benefit all countries of the world. Numerous developing countries find themselves trapped in ever increasing poverty, with heavy debt burden and economic difficulties which have severely hampered their development efforts. The development disparity between the North and the South and the gap between the rich and the poor are ever widening. Economic globalization has brought about tremendous challenges and pressure to bear upon the economic sovereignty and security of the developing countries. At present, while the developed nations occupy 86% of the gross world product and 82% of the export market, the developing countries, with an overwhelming majority of the world population, hold a mere 14% and an 18% respectively. The world is witnessing ever increasing wealth enjoyed by the developed nations in contrast to the ever worsening poverty on the part of the developing countries. There are still 1.3 billion people in the world living under the abject poverty line with an overwhelming majority of whom living in the developing countries. Absent a fundamental change of such a situation, not only will the developing countries be unable to keep up with the development of the world economy, but the developed nations will also fail to insulate themselves from adverse effect, resulting inevitably in a turbulent world community which will find it increasingly difficult to promote the common development of all countries and realize world wide prosperity. To reverse such an imbalance of the world economic development, the world community must make joint efforts in transforming the existing world economic order so as to make it conducive to the maintenance of the interests of all countries of the world, including that of the developing countries.

Mr. Chairman,

The Chinese delegation believes that this committee's deliberation and study of the item on the Progressive Development of International Legal Principles and Rules for a New International Economic Order will advance the process of establishing a just and fair new international economic order. To this end the Chinese delegation wishes to propose the following:

Firstly, our deliberation and study of this item should embody the historic development and evolution of the times, as well as reflect the common desire and interests of the people of all countries of the world. Secondly, our deliberation and study of this item should adhere to the purposes and principles of the UN Charter and other universally recognized norms of international relations. Thirdly, our deliberation and study of this item should respect special circumstances of various countries and their peoples' independent right to choose their social systems and development path. Ours is a colorful world with all countries and nations having contributed towards the progress of the civilization of mankind. Therefore, the difference among the various social systems and ideas and values should not pose as an obstacle to the development of normal relations among countries, even less so serve as a pretext in interfering in other states' internal affairs. Fourthly, our deliberation and study of this item should, against the background of today's world economic development reality, particularly the objective requirement of economic globalization, reflect upon, reiterate, revise, enrich or otherwise reformulate an international legal system, principles of international law and rules of games commensurate with the above-mentioned reality and requirement. And fifthly, during the process of our deliberation and study of this item we should, in adherence to and implementation of the principle of democracy, encourage an extensive and intensive participation by the developing countries on an equal footing. We should fully consult with each other, heed and adopt various thoughts and views. We should rightly accommodate the developing countries' needs while taking into consideration of the interests of all parties. We should approach the international legislative work process with reason and practicality, and allow this process to progress in a natural and gradual manner, thereby providing the necessary legal protection for the achievement of a genuine economic cooperation between the developed and developing countries, and for equality and mutual benefit, and common development.

Mr. Chairman,

This committee has over the years devoted itself to the compilation and popularization of international law, and has contributed significantly to the understanding and study on the part of the members of the international community of the international law, and to their acceptance of the international legal principles. The Chinese delegation has reason to believe and sincerely hopes that, under your guidance and with the untiring efforts of all delegations, this committee will reach positive results in its deliberation and study of the Item of The Progressive Development of International Legal Principles and Rules for A New International Economic Order.

Thank you, Mr. Chairman.