2011 Summit of Group of 20 (g-20) will be held November 3 at France held the southern coastal city of Cannes. France earlier this year when you took over the Presidency of the g-20, identified three priority issues: reform of the international monetary system, contain the excessive volatility in raw material prices in the international market and global governance. Some analysts believe that this year, European debt crisis continues fermentation, may become difficult to avoid the other issues, but after some delegates had position has no intention of adding topics, so this meeting on this issue difficult to obtain tangible results.

　　Promoting sustainable world economic growth

　　Since the second quarter of this year, a sharp slowdown in economic growth in developed countries, high unemployment, downside risks to global economy grows.

　　The Cannes Summit, France will submit a plan of action for consideration by the leaders to discuss. This action plan will comprise a coordinated policy measures, the main contents include: advanced economies will have clear, reliable, specific set of fiscal consolidation measures; emerging economies will adjust macro-economic policies, if necessary, maintain the momentum of economic growth, reducing inflationary pressures, enhanced ability to cope with impact of capital flows. All g-20 members should further promote structural reforms to increase potential growth and employment expansion.

　　To avoid a massive financial crisis broke out again to drag on the world economy, the Summit will also continue to discuss international financial regulatory reform issues. France hopes that the g-20 members coherence by implementing new international banking regulation standards of the Basel Protocol III. In addition, excessive fluctuations in international prices for raw materials and energy markets were raised concerns. In response, France proposed strengthening the supervision of the raw materials market.

　　CUI Tiankai, China’s Deputy Foreign Minister pointed out that the g 20 advocate for strong, sustainable and balanced growth among the three pillars, the priority is to ensure that strong growth, consolidate the results come by economic recovery.

　　International monetary reform continue to advance

　　Dollar and dominate the world, euro crisis situation, France hopes Cannes Summit consensus on reform of the international monetary system, in particular the capital flow management proposals have been made; strengthening the response to the financial framework of systemic risk; currency internationalization of regional arrangements in emerging countries, support and help emerging markets currency internationalization process; improve IM f on the supervision of the international financial system.

　　In particular, France hope the g-20 leaders determine a framework for improving the management of capital flows, adopting a development of regional bond markets (in local currency in circulation) of the plan of action, IM f series deal with regional cooperation.

　　Some analysts believe that, Sarkozy want g-20 in the framework of promoting the renminbi into IM f within the SDR currency basket, aimed at encouraging the Renminbi has more space, with more flexibility. In the long run, internationalisation has its necessity, to facilitate foreign trade through a settlement, in the international community to play a bigger role, but also taking into account the balance between the long-term goals and short-term negative effects. Now need to observe the parties could reach an acceptable consensus on this issue.

　　EU through g 20 out of crisis

　　As the European debt crisis, September France included the European debt crisis g-20 Summit in Cannes question, hope the Summit will achieve consensus, coordination of policies on a global scale, to take measures, to stabilize the financial markets and world economy return to rapid sustainable growth to provide protection.

　　On the g-20 Summit in Cannes, the EU’s position on basic economic topics. European Union advocates greater trade liberalization, against protectionism, hoping to trade liberalization to increase European exports, maintain economic growth in Europe. The EU also hope to promote financial regulation, the banking sector’s ability to guard against risks.

　　In addition, the European Union also places particular emphasis on g-20 should make sure that the International Monetary Fund (IM f) has sufficient resources to fulfil its systemic responsibilities. Since around the fire, IM f also at risk of shortage of funds. Even to a report obtained by Reuters said current IMF only about 390 billion dollars can lend. The European Union, if possible, IM f should seek funding to have large external surplus countries, suggesting that China and other emerging economies by IM f system to provide assistance to European.

　　But the view was stated that rapid growth in emerging market countries will support economic development in the world, but the emerging world economy is not yet strong enough to save the world economic stage.

　　Fu ying, Chinese Vice Foreign Minister pointed out that Europe is the world’s largest economy, its own power is still very strong, European companies whose business is good, Europe is not able to save themselves, China save the Europe issue has not been established. Reporter Wang Jing