China is seeking to become the chief architect of new models of global governance in the wake of the rapid retreat of the US from the international stage under Donald Trump, with Beijing saying the existing mechanisms do not properly represent the interests of developing nations.
Placing the organisation in Hong Kong also sent a message to the world that the city is moving beyond its traditional image as a gateway to the mainland’s economy and can play an increasingly political role as China’s bridge to the Global South.
“Let’s improve the participation of developing countries … and strengthen the representation and voice of the Global South in international governance,” Wang said during his speech at the signing ceremony.
He added that the body was “intended to fill a gap in the existing international mediation mechanisms and serve as an important rule-of-law public good for improving global governance”.
“Building IOMed is an important effort by China to participate in global governance and to expand multilateral mechanisms in action,” said Zhu Feng, the executive dean of Nanjing University’s school of international studies.
