June 11, 2007 (LPAC)--In his speech June 7 to the pre-G8 "sideline" event of the developing nations, Hu Jintao said that developing countries "should continue to work for the establishment of a sound international economic order and foster an enabling financial, trade and energy environment," because developing nations are facing "mounting challenges" from globalization, and must work together to meet these challenges. He was addressing the summit of the nations of China, Brazil, India, Mexico and South Africa. "Developing countries are exploring development paths compatible to their national conditions. Developing countries have become an important force in maintaining world peace and promoting common development," Hu said.

At the same time, the populations of China, India, Brazil, South Africa and Mexico are 42% of the world, and are playing an increasingly major role in the world economy. To guard their interests, Hu called for three measures. First, they should increase their cooperation: "We should continue to work for the establishment of a sound international economic order and foster an enabling financial, trade and energy environment," Hu said. He also called for "developed countries to meet their commitments and provide more assistance for developing countries, write off or reduce their debts and increase investment in and technology transfer to them." He urged more cooperation to build trade, joint investment, and infrastructure, and expanding the role of "South-South" groups such as the Summit of South American-Arab Countries, the Forum on China-Africa Cooperation and the India-Brazil-South Africa Dialogue Forum. Finally, national leaders must prepare themselves well for such world summits as the UN General Assembly.

After the G-8, Hu Jintao went to Sweden, where he stressed that China, for all its economic growth, is still the world's biggest developing economy, and faces long-term and hard work to become a modern nation. "The message that I wish to send to you is this: China is firmly committed to peaceful development. It concentrates its efforts on development at home and endeavors to uphold world peace and common development internationally." Of its 1.3 billion people, 800-900 million are still based in the countryside, and living standards are years behind those of the cities.