G20 summit must look at bigger picture

The G20 summit should continue to consolidate the partnership of the 20 countries and strengthen coordination of macroeconomic policies, said an article in People's Daily (excerpts below).

The G20 summit will be held from Sept 5 to 6 in St Petersburg and should help strengthen global economic coordination.

Establishing a fairer and more rational international economic order is much more urgent than at any other time in recent history.

The developed countries need to shoulder the responsibilities together with the emerging economies. The latter deserve a greater say.

The great potential of the developing countries can serve as a new engine for global economic growth.

Building a robust, sustainable and balanced growth framework, reforming IMF governance structure and establishing a financial stabilization council to strengthen supervision are all important goals for the summit.