The "Two Major Initiatives" complement each other, forming an inseparable whole that reflects the high degree of linkage and close interaction between global politics and economics today. Theoretically, the "Two Major Initiatives" represent a systematic understanding of the development trends of our times, profoundly revealing the rich connotations and contemporary characteristics of world multipolarity and economic globalization. In practice, they drive the international order and system toward a more just and equitable direction, charting a shared path forward for people of all nations standing at a historical crossroads.

Economic globalization is the trend of the times. Despite countercurrents, dangerous shoals, and various challenges, giving up eating for fear of choking is not a solution. Only by providing sound guidance can we make economic globalization more beneficial to all and boost the confidence of people around the world in economic globalization. To steer economic globalization toward a promising future and deliver more benefits to people across the world, the international community should jointly advocate an economic globalization that is universally beneficial and inclusive, and create a better future for the global economy.

Economic globalization should be inclusive and beneficial to all, addressing the imbalances caused by unequal resource allocation and distribution. How to resolve the developmental disparities brought about by economic globalization and bridge the fairness deficit is a crucial issue that all parties must confront. President Xi Jinping pointed out, "Global prosperity and stability cannot be built on a foundation where the poor grow poorer and the rich grow richer." Advocating for inclusive economic globalization aims to promote more sufficient and balanced development, enhance the shared benefits of economic globalization, address the developmental imbalances between and within nations caused by global resource allocation, and foster an economic globalization that benefits the common development of all countries and peoples.

In recent years, economic globalization has encountered headwinds, which, to some extent, stems from the erosion of the principle of inclusiveness. At the external level of nations, issues such as the North-South divide, uneven recovery, development gaps, and technological disparities have become more pronounced. Some developing economies, particularly low-income and least-developed ones, suffer from inherent deficiencies in development resources and economic structures. Coupled with the impact of unfair international economic rules and order, they have gained relatively little from economic globalization, or even found themselves marginalized. At the internal level of nations, some advanced economies have experienced unequal distribution of benefits during economic globalization. While financial capital and multinational corporations reap enormous profits, some segments of the population have been left behind, witnessing a decline in their actual living standards. These advanced economies, once the primary drivers of economic globalization, are now rolling out a slew of protectionist policies in an attempt to shift their domestic problems abroad and externalize their contradictions. They perceive the broad economic ties fostered by globalization among nations as security threats, engaging in excessive politicization and securitization under various pretexts. In essence, these actions are about “instrumentalizing the economy and weaponizing trade to serve their ambitions for power,” all in pursuit of monopolizing development advantages and hoarding the gains of global economic growth for themselves.

It is not scary to encounter all kinds of problems; the key is to find solutions. Advocating for inclusive economic globalization aims to address a series of major issues and challenges facing the world today, steering economic globalization out of its current headwinds. On one hand, we must focus on growing the pie, aligning with the common aspirations of countries worldwide, especially developing nations, and reinforcing the international consensus that "development is the absolute principle." This will guide the global economy back onto a path of healthy, stable, and sustainable growth. On the other hand, greater efforts must be made to share the pie more equitably. While pursuing national interests, countries should also accommodate the legitimate concerns of others, paying special attention to the unique needs of developing nations. Measures such as debt relief and development assistance should be employed to support developing countries, particularly the most vulnerable ones facing severe difficulties. This approach will help resolve internal development imbalances within nations, fostering a people-centered economic globalization that promotes more balanced development and equal opportunities. The goal is to ensure that countries, social strata, and individuals across the board can participate in and benefit from socioeconomic progress.

Economic globalization should be inclusive and support countries in pursuing development paths suited to their national conditions. Today's world comprises numerous countries and regions, each with distinct histories, cultures, social systems, and development trajectories. Advancing economic globalization cannot be uniform or monolithic; it must acknowledge the diversity and differences in national development. The goal should be to seek common ground while reserving differences, to unite around shared interests and bridge disparities, thereby fostering human civilization and promoting global peace and development through an inclusive process of economic globalization.

In the process of economic globalization, some countries have drawn lines based on values and ideologies in their foreign cooperation, promoting so-called theories of "civilizational superiority," "clash of civilizations," and "the end of civilization." They have been imposing exclusive international rules everywhere, blatantly engaging in "nearshoring" and "friendshoring," and targeting specific countries and regions with policies labeled as "de-risking" or "reducing dependencies." These actions are essentially aimed at geographically containing, rule-wise constraining, development-wise stalling, and image-wise demonizing emerging markets and developing countries, with the real intent of pushing the global economy toward "decoupling and severing supply chains." To maximize their own advantages and suppress competitors at any cost, a few major powers are pursuing strategies that seek to exhaust rivals even at the expense of their own interests, increasingly driving the global system toward bloc formation and fragmentation.

President Xi Jinping pointed out that, “Development is a right for all countries, not a privilege reserved for a few,” and that, “Any political manipulation that would hold back the development of other countries and harm the lives of people in other countries is unpopular and will eventually prove futile.” Advocating inclusive economic globalization means that every member of the international community must be respected, that no country with different history, culture and social system should be excluded from the international system, and that no country is allowed to have privilege over others or deprive others of the right to benefit from economic globalization in international affairs. It means supporting countries in pursuing a development path suited to their national conditions, viewing others’ development and growth and their policy ideas in an objective and rational manner, firmly pursuing the vision of win-win or all-win cooperation, promoting fair and just competition, and encouraging all sides to respect each other’s legitimate interests and reasonable concerns. It means opposing all forms of unilateralism and protectionism, rejecting discriminatory and exclusive standards and rules, safeguarding the multilateral trading regime with the World Trade Organization at its core, promoting trade and investment liberalization and facilitation, ensuring stable and unimpeded functioning of global industrial and supply chains, building an open world economy, and sustaining the dynamism and vitality of global growth.