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G20 London Summit > Commentary

Financial crisis provides opportunity for int'l co-op

(Xinhua)
Updated: 2009-03-31 11:25

LONDON -- The Chinese Ambassador to Britain Fu Ying said here Monday that at the upcoming Group of 20 (G20) Summit in London, member states should strengthen cooperation to cope with the financial crisis jointly as "the world, hit by a most serious crisis once in a hundred years, faces rare opportunity for coordinated international cooperation."

Financial crisis provides opportunity for int'l co-op
Chinese ambassador Fu Ying runs with the Olympic torch in London on April 6, 2008. [Agencies]
"It is of great significance for the developing nations and developed ones, sitting together on equal footing within the framework of the G20, to discuss the global financial crisis," said Fu in a interview with Chinese journalists ahead of the G20 Summit on Thursday.

To China, said Fu, the London Summit is an important opportunity for international cooperation.

Although the London Summit could not solve all the problems, it is extremely important under the current circumstances for more than 20 developing and developed countries to speak with one voice and show determination and confidence in fighting the crisis, she added.

The London Summit, to be held nearly five months after the November15 G20 Summit in Washington, is expected to discuss how to strengthen coordination in macro-economic policies, tighten international financial supervision, stabilize international financial market and reform the international financial organizations.

Apart from the United States, the European Union (EU), major European economies and Japan, the emerging economies including Brazil, China, India and Russia will also attend the London Summit.

Fu expressed her hope that the world leaders can reach consensus on some important issues at the summit, adding that without international cooperation, the global financial crisis would be difficult to be overcome.

At the London Summit, Fu said, the G20 members need to consider how to solve the issues which draw the most attention from the public to contribute to world stability and development.

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