Core Viewpoint - The global economic growth is becoming increasingly "expensive," particularly for developing economies facing debt pressure, tightening financing, and rising external uncertainties. The focus is shifting from achieving higher growth rates to finding sustainable investment opportunities for the future [1]. Group 1: Economic Growth Factors - The global economic recovery is slow and uneven, with a projected growth rate of 2.5% for 2026, significantly below the pre-pandemic level of 3.2%. This growth is insufficient to meet sustainable development goals [4]. - Four key factors impacting economic growth are identified: 1. Debt issues, with many developing countries allocating over 10% of their fiscal revenue to debt servicing, limiting their investment capacity for sustainable development [4]. 2. Trade tensions, which could escalate with new tariffs, posing a significant risk to economic growth [4]. 3. Youth unemployment, which remains a severe challenge across nations [4]. 4. Climate shocks, which disrupt food supply and infrastructure, increasing fiscal burdens for recovery [4]. Group 2: Sustainable Development Financing - There is an annual investment gap of approximately $4 trillion to achieve sustainable development goals, which, while substantial, represents a small fraction of the global GDP exceeding $100 trillion [5]. - The "Seville Commitment" outlines three action priorities for sustainable financing: 1. Mobilizing both domestic and international investments, including concessional financing from multilateral development banks and private capital [5][6]. 2. Urgent resolution of debt crises, with specific measures proposed under the G20 framework [6]. 3. Reforming the international financial architecture to ensure timely emergency financing during crises [6][7]. Group 3: Sovereign Debt Restructuring - The current debt situation poses significant challenges for developing countries, necessitating a long-term perspective rather than short-term fixes. The "Seville Commitment" emphasizes coordinated solutions to address these challenges [9]. - The G20 framework suggests three core recommendations for debt restructuring: accelerating the process, ensuring equitable responsibility among creditors, and promoting coordinated actions [9][10]. Group 4: Investment in Human Capital and Productivity - Investment in human capital is deemed non-negotiable, with a focus on enhancing skills, digital literacy, and education to foster future prosperity [11]. - Productivity growth in developing countries has significantly declined, necessitating structural transformation towards value-added manufacturing and service sectors [11]. - Investment in renewable energy and health is highlighted as crucial for creating jobs and enhancing productivity [12]. Group 5: Global Cooperation and Multilateral Action - Despite global fragmentation, common challenges and solutions exist, particularly in areas like poverty alleviation, food security, and climate change [14]. - The United Nations plays a pivotal role in facilitating cooperation among member states to achieve shared goals, emphasizing accountability and effectiveness in global governance [15]. - China's potential role in advancing the global development agenda is recognized, particularly through initiatives that bridge financing gaps and promote technology transfer and capacity building [16].