Balancing the developed and developing worlds

Major economic and financial affairs have topped the agenda of the past ten G20 Summits. They will also top the agenda of this year's summit in Hangzhou on Sept 4-5 and help silence the emerging anti-globalization forces.

Determined to strengthen coordination on international macroeconomic policies, level the playing field for all economies, and rebuild trust between the West and the emerging markets, the multinational bloc is now a leading platform for global economic governance, with the G7/G8 losing its magic.

After the United Kingdom's exit from the European Union and the rise of trade protectionism in some Western economies, globalization seems to be losing its charm for many, especially when it comes to economic integration.