There is only one way of achieving world peace, and that is through the China-proposed Global Governance Initiative.

Despite the United States' spurious claim of a "China threat", China has always advocated world peace and a harmonious relationship among all nations. It is not a threat to any country, regardless of provocations and false rumors spread by the US and its Five Eyes alliance partners — Canada, Australia, New Zealand and the United Kingdom.

President Xi Jinping proposed the GGI at the "Shanghai Cooperation Organization Plus" Meeting, which was held in China's northern coastal city of Tianjin earlier this month. The SCO Summit in Tianjin was the largest-ever gathering of the organization since it was founded in 2001, and was attended by leaders of more than 20 countries and heads of 10 international organizations.

While launching the new global initiative, Xi highlighted five principles of the GGI — adhering to sovereign equality, abiding by the international rule of law, practicing multilateralism, advocating a people-centered approach and focusing on taking real actions.

The initiative comes at a time when the world is in turmoil. The US' wishy-washy decision-making has alienated many of its trading partners, who are anxiously looking for a more trustworthy ally. Deals have been cut, reinstated and readjusted before the ink has dried on US President Donald Trump's executive orders. Foreign nationals have been deported from US shores and then asked to return.

US hegemony is coming to a close because of Washington's temperamental policymaking. It risks being isolated soon on the world stage. The world has had enough of such abuse of traditional American leadership, and thus new groups are being formed around the world to counter US hegemony and its blatant bullying.

A distinguishing feature of the GGI is advocating equity among all countries — regardless of size, strength and wealth — as equal partners in global governance. By promoting collaborative international policy formulation and decision-making to tackle problems, the initiative can deal more effectively with global challenges, such as climate change, economic imbalances and human rights abuse, and promote the digital revolution and sustainable development. It will put smaller nations on an equal footing with larger nations when discussing trade deals, international laws and territorial boundaries.

The GGI is truly a commendable initiative and sits neatly with other global initiatives proposed by Xi in recent years, namely the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative. It also aligns with the Belt and Road Initiative, proposed by China in 2013, which involves investments in more than 150 countries.

The BRI builds healthy economies backed by robust infrastructure projects, promoting transportation, energy and communication networks.

Chinese engagement through financial investments and contractual cooperation in countries taking part in the BRI involved 340 deals worth $121.8 billion in 2024, up 31 percent year-on-year, according to a report by the Griffith Asia Institute of Griffith University and the Green Finance & Development Center at FISF of Fudan University.

The GGI received high praise from world leaders attending the summit.

United Nations Secretary-General Antonio Guterres said the GGI "is anchored in multilateralism and underscores the importance of safeguarding the international system with the UN at its core and the international order underpinned by international law".

Russian President Vladimir Putin said that Russia supports the initiative and "is eager to engage in a substantive discussion of the proposals presented by our Chinese friends".

"We have given careful consideration to the proposals put forward by President Xi Jinping for establishing a more effective and functional system of global governance. Such efforts are particularly relevant at a time when certain countries continue to pursue dictatorial practices in international affairs," Putin added.

Malaysian Prime Minister Anwar Ibrahim wrote in a social media post that his country fully supports the initiative, which he said is based on "justice, compassion, humanity and cooperation, with multilateralism at its core".

And Cuban President Miguel Diaz-Canel said his country supports the GGI, as "it will contribute to the reform of the global governance system, in order to ensure the construction of a community with a shared future".

At present, the world is divided between warmongering, where the only winner is the US because of the huge profits it earns by selling weapons, and the collaborative diplomacy championed by China, where investments are made in genuine conflict resolution, infrastructure building and economic development, ensuring peace and prosperity.

The author is former chief information officer of the Hong Kong government, a PR and media consultant, and veteran journalist.

The views do not necessarily reflect those of China Daily.