The G20 summit occurring in Hangzhou is an important and timely meeting for global leaders, finance ministers and the world in general. It is especially significant that China and the U.S. chose this period to sign the Paris Climate Change Treaty. China and the U.S. account for about 40 percent of the world's emissions, and their early signing signifies an intention to seriously tackle the challenge of global warming.

I have been fortunate to have travelled to beautiful Hangzhou, a city renowned for its historic relics, exotic gardens, lakes and other natural beauties -- often described by my Chinese friends as "heaven on earth." Although Hangzhou has been through many recent urban developments, it has retained its historical and cultural heritage and today is a major tourist destination. West Lake, for example, is a UNESCO World Heritage site.

Economically, Hangzhou serves as a good example of how China's future growth is being extended throughout the country with many new cities showing rapid growth and development. It is also worth mentioning that the Alibaba Group -- a symbol of China's new internet economy and source of future growth -- was founded in Hangzhou

Hangzhou is also a city of rising political importance. In addition to being selected as the first Chinese city to host the G20 summit, in September 2015 Hangzhou was awarded the 2022 Asian Games, becoming the third Chinese city to play host to the Asian Games.

It is also significant that this G20 session saw the invitation of more developing countries and non-G20 members. Asia has 70 percent of the world's population and many developing economies. It desperately needs infrastructure if it is to grow its way out of poverty and improve the life of its people, especially the millions who continue to live on a few dollars a day. This is the major thrust of "Belt and Road" initiative, and multi-national cooperation and commitment are required to reach the multiple goals involved.

The G20 summit hopefully will refocus the world on globalization and promotion of trade for mutual benefit. It is important to reverse trends seen by events such as BREXIT and other movements towards isolationism and populist calls for nations to withdraw from free trade and other international agreements both existing and planned, such as the TPP. The economic, political and social reality is that we are all more connected than ever before. If we are to progress, dialogue, cooperation and international trade must be advanced.

The G20 summit is also a reminder that the group must continue to evolve from a crisis committee convened to cope with a GFC to a management committee that must promote and help manage peaceful development around the world for the benefit of all. This cooperation must also be fostered by continually improved global governance characterised by transparency, accountability and inclusiveness.

As this post went to press, the writer notes that President Xi made many of the same points in his address, namely the need for action, and not just more talk, in reinvigorating globalization, a focus on innovation and sustainable development and inclusiveness and greater coordination among G20 members together with continued reforms leading to more effective systems of governance for the G20 Committee.

Eugene Clark is a columnist with China.org.cn. For more information please visit:

http://www.china.org.cn/opinion/eugeneclark.htm

Opinion articles reflect the views of their authors only, not necessarily those of China.org.cn.

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