From Chinese Press

Priority should be given to G20 - a new emerging thing

By Wu Jianmin (peopledaily.com.cn)
Updated: 2010-06-30 09:55

At the Third Summit held in Pittsburg in September 2009, G20 leaders agreed to turn their organization into an important platform for conferring on or disposing of global financial and economic issues, and this decision is very appropriate and far-sighted.

The Group of 20 represents around two/thirds of the global population while its combined gross domestic product (GDP) and trade value account for 85 percent and 80 percent of the global GDP and trade value respectively. So, it is hard to find or sort out the second biggest global organization like the G20 in term of capacity, with the exception of the United Nations.

The countries around the globe have turned increasingly more mutually interdependent at present, and the world is being confronted with common challenges, which are so grim and stark and, at the spur of these two factors, there is a greater call for beefing up global management or governance. So, what the G20 does is definitely crucial moves aimed to enhance global management.

It is foreseeable that the G20 will go on upgrading its role in international relations. To date, the United Nations has become the most representative world body while the G20 is prestigious for its efficiency in coping with the global financial crisis, but its legitimacy has to be further upgraded. So, there is a need to integrate the legitimacy of the United Nations with the effectiveness of the G20, in a bid to improve the global management. Hence, this idea is by no means groundless.

As an important member of the G20, China has actively partaken in and immensely contributed to the success of all four previous G20 summit meetings since 1999, and it shows the nation's role is by no means insignificant and China has actually moved into the center stage from its arena fringes.

Like all new-born things on earth, which have been reported with weakness, the G20 has its own fragility and instability, and needs all the more to be tended with a meticulously care; a charter or a set of rules on the G20 should be formulated, as the related endeavor is very much required for the sake of world progress and in the interests of the humankind.