In the post-crisis period full of complexity and uncertainty, the Group of 20 (G20) can undoubtedly serve as a key to understanding the transition and development of the world economic pattern.
The upcoming G20 Seoul Summit in the Republic of Korea (ROK), the first ever in a non-G8 nation, is of great significance to the rebalance of the decision-making power in the world economy, and is also an important opportunity for the promotion of Sino-ROK ties.
As it is becoming the world's macroeconomic coordination mechanism, the G20 is of great significance for the advancement of international relations and the world economy. The outbreak of the global financial crisis indicated that the current West-led international system has limitations and is unable to reflect the demands of emerging economies.
The development of the G20 would help balance the over-centralized world economic power structure.
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