From G7 to G20
Maybe there are millions of TV stations worldwide broadcasting the G20 Summit these days. And there is no doubt that most people in developed countries focusing on what overtures would be put forward during the Summit.
Maybe we are familiar with the notion of G7 and G8, even G77. However, it might be the first time for the G20 to appear on the stage of the world political and economical stage. Several years ago, some experts pointed out a definition called BRICs, representing Brasilia, Russia, India and China, which are fast developing economies. Similarly, the members of the G20 are not only from the west world, but also including Argentine, Egypt, Saudi Arabic and Mexico, which play very essential roles in the global economy today and future.
Financial tsunami is not only a tragedy for the developed countries and new industrialized countries. The foreign trades of the developing countries and the employment rates of the less-developing countries will experience the strike as well. Obviously, it is the high time for the world to cooperate to conquer the setbacks. Especially, the promising economies in G20, which would replace the great power in the following 50 years, should take more responsibilities to survive the world economy and rebuild the economy system. China has decided spend 4,000 billion RMB to stimulate domestic demands and consuming. Meanwhile, the government financial investment in infrastructures and other regions will develop more job opportunities. As is known to all, China has the largest population and third largest economies. Decisions by Chinese government will impact deep influence to the world economy.
In history, the Netherlands, Spain and the Great Britain used to be the great powers. But as the time goes by, they have been edged out by the new great powers for many reasons. Thus, we may assert that there are opportunities and challenges lying on the roads for the G20 to establish the multi-polar world.
APEC summit is coming. China, Russia and other new economies will still be positively in the summit and contribute more for rescuing the world from the severe winter.
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