It is also important to 上海4190 framework so it can

 better address the global economic problems. The G20, for insta

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vernance. Established in the wake of the 2008 global financial crisis, it has become a vital platform promoting global eco上海419品茶微信

nomic governance, and played an important role in the reform of the global economic governance system.

上海419For example, the G20 helped the IMF and the World Bank transform themselves after th

e global financial crisis, so they could deal with the mid-to long-term global economic problems.

But this year the G20 faces more severe challenges. Although the G20 has provided a platfo上海419品茶微信

rm for major countries such as China and the United States to negotiate trade issues, some economies

might not see the group in the same light. The G20 should therefore help the major econo

上海419mies coordinate their trade policies, in order to strengthen global economic governance. The G20 should also

focus on devising rules that would help the major economies avoid conflicts and reach acceptable agreements.

The changing profile of the G20, however, is seen as not only上海419品茶微信

an opportunity but also a challenge for the major economies. While the G20 can help coo

rdinate the trade policies of the world’s 20 largest economies, it should further enhance its authority by working ou

上海419品茶微信t a global economic governance agenda, and suggesting possible ways to resolve burning economic issues.

Thanks to China’s unprecedented economic development and increa

sing contributions to global economic growth and governance, the international co

mmunity expects it to also help improve global economic governance so the world economy can achieve su上海419

stainable, healthy and vibrant growth. And despite rising trade protectionism and unilateralism, China remains c

上海419品茶微信mmitted to expediting reform and opening-up so as to promote economic globalization and help improve global ec

onomic governance.The author is director of global governance research division of Institute of World Economics a

nd Politics, Chinese Academy of Social Sciences. The views don’t necessarily represent those of China Daily.

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