Compromises needed to save global economy

As the second G20 summit kicks off in London, the world's focus is on whether the meeting can propel the reform of the International Monetary Fund and trigger global economic recovery.

Of course, European countries and the US hold different views towards policies on international finance and monetary reform due to protection of their respective interests. Therefore, it's too optimistic to say that the two sides can join hands in adjusting global policies simultaneously.

Protectionism has swept across the world in the face of the financial crisis.