No more quick fixes

Two years after the Group of 20 (G20) managed to haul the world economy out of a global crisis that might otherwise have been much worse, there is growing disappointment over its apparent lack of any sense of urgency in coming up with concrete measures and a timetable to fix the increasingly outdated global economic and financial systems.

When finance ministers and central bank governors from the G20 rich and developing countries meet in Paris on Friday and Saturday, they should no longer expect the coordinated stimulus packages to replace the painful but necessary long-term solutions.

Admittedly, the world economy is on track for a dual-speed recovery. But the current easing of the global crisis does not mean that the root causes of the global economic woes have been identified and fixed.