Chance to set things right for world economy

The theme of the 11th G20 Leaders' Summit, "building an innovative, invigorated, interconnected and inclusive world economy", will help China better play its role in world economic development as well as encourage it to promote its innovative mechanism to deepen the interconnectivity of and boost the global economy. China has been the main driver of world economic growth but as the host of the G20 summit - scheduled for Sept 4-5 in Hangzhou, East China's Zhejiang province - its global role has acquired greater importance because of the global economic slowdown and dwindling trade, and developed countries, including the United States, inability to use innovation to tide over the economic problems.

But deepening the interconnectivity of the global economy is a job easier said than done. G20 economies, both developed and developing, have their own policies and interests, which are sometimes difficult to coordinate. On one hand, developed countries try to pressure developing economies into further opening their domestic markets as well as take advantage of their capital to sway the latter's economic trend. On the other hand, while introducing foreign capital and technologies, developing countries are worried about the developed world's capital monopoly and technological control and thus tend to set certain restrictions.

Some developed countries have gone all out to sabotage established free trade rules and resorted to trade protectionism. Such practices are essentially aimed at creating a new regime of unfair trade for developing countries and replace essential unfairness with superficial fairness.