The G20 Research And Its Development Trend

The global financial crisis in2008has shown the world that the world economicpattern has taken great changes, while the former international economic systemcannot meet the new demands of the current world. At this background, in the postcrisis era, all the nations in the world has already realized that in order to pretend thepotential economic crisis, the world needs better global economic governance andcooperation on macroeconomic policies among major economies with morerepresentativeness. Then G20emerged as a major economic organization. G20complied with the new characteristics of international economic pattern andinternational economic system. It created a multilayer platform for the rise of theemerging economies and steady transform of powers, and it also brought about newsolutions for containing the regional economic cooperation and promoting globaleconomic governance. The emergence of G20has started the establishment of a newinternational economic pattern.However, with the development of G20, it has gradually exposed manyshortcomings, in its efficiency, legitimacy and other aspects. The future of G20stillfaces many challenges, which harms the development of G20. Therefore, at this keymoment of G20’s development, to analyze G20’s future development trend, and tomake some helpful suggestions is very meaningful.In this article, by analyzing the current situation and the problems of G20, we canarrive at the key factors which may influence the future development of G20. Whileby accessing the possible effect of these factors, we can eventually arrive at thegeneral conclusion of G20’s future: In this era that the gap between developingeconomies and developed economies is largely reducing, while the internationaleconomic order is quickly changing, G20’s emergence has been very meaningful.However, G20cannot overturn the former world economic order, but can onlyimprove the former international economic order in the long term as a new pattern ofglobal economic governance.