This is the macro backdrop to the bumpy progress of the 2030 Agenda and the worsening global development deficit. This situation has five characteristics: on the one hand, economic growth is sluggish with persistent geopolitical tensions and backlash against economic globalization; on the other hand, a new round of scientific and technological revolution and industrial transformation is well underway, and the influence of the Global South is growing. In the new period of turbulence and change, the world is facing six common challenges: escalating climate change, severe energy and food insecurity, potential risks of AI, persistent public health challenges, disrupted industrial and supply chains, and growing development imbalances. These common challenges, intertwined and compounded, place more pressure on the Global South, calling for immediate concerted efforts from all parties.