By Xinhua writers Xu Duo, Jin Minmin
BEIJING, June 23 (Xinhua) -- The leaders of the Group of 20 will gather over the weekend in Toronto, Canada, in a bid to inject fresh impetus to the global recovery and wean the world off stimulus packages.
The task is tough because the stimulus measures have to be phased out without hurting the nascent and fragile recovery. But still tougher is the question frequently asked in the "post-crisis era" -- whether it is necessary to keep the G20 summit, a seeming byproduct of the financial storm.
And the answer is yes. We need not only to keep the summit but also to make it a constant and regular gathering tuned to a world with unprecedented changes and currents underway.
The world economy has become increasingly intertwined and the economic and monetary policies of one country will inevitably exert an impact on other countries.
We need not to look further for perfect examples. The sub-prime mortgage crisis in the United States boiled over into a worldwide financial storm and the ensuing global recession. The world economy is still reeling from the devastating power that storm unleashed.
