By He Yafei

June 23, 2016

"This year China will host the G20 Summit in Hangzhou in September. The world's attention has been riveted on the upcoming Summit with great expectations on two fronts: How to promote global economic growth amid worldwide slowdown coupled with increasing financial risks as monetary policy tools have been almost exhausted.

There are three most pressing and important questions that need to be answered as global elites scratching their collective heads.

1. Why does the world need G20 now to lead global governance and its systemic reform?

As the global political and economic landscape shifts in a way never seen before in history, global governance has witnessed the most fundamental transformation in the last 500 years. To borrow political pundits' jargon, it is shifting from 'governance by the West' to 'co-governance by West and East'. It is made clear to both developed and developing nations that global governance architecture must change to keep up with the changed reality."

Read more:
http://www.chinausfocus.com/finance-economy/can-china-lead-and-transform-g20/

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