Summit faces major tasks

Early-warning and crisis management mechanisms and effective oversight over transnational corporations needed

Four years ago, the G20 became an effective platform to manage the international financial crisis, but that crisis has now been compounded by the sovereign debt crisis in Europe and complicated by the weak growth of the world economy.

The G20 has to beef up its institutional capacity in order to more effectively manage the still evolving crises, promote closer economic and trade cooperation, further reform the existing international economic institutions, and promote equitable global economic governance.