China draws world's attention ahead of G20 summit

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Since the first Group of 20 (G20) Summit in November 2008, the attention China has been getting has shifted from that of a turn-round-to, to that of a look-up-to, analysts said.

Two years ago, almost all developed economies turned round to look at what actions China took to cope with the financial crisis. Now in the midst of a uneven global recovery, China has become one being looked up to by developing and developed economies for its leading if not exemplary roles.

As the curtain is about to rise at the upcoming fourth G20 summit in Toronto, Canada, China and the crucial roles she is playing once again draws the world's attention.

A steady stabilizer in global development

Prior to the first G20 summit, China has since been managing to sustain a rather fast growth rate while taking an active part in orchestrating with other economies, developed and developing alike, to push for a global recovery through reformed and renewed financial and economic mechanisms.

Despite the fact it is still a developing country itself, China alone has contributed toward half of the global GNP growth in the time of crises.

Amidst downslides of the United States, eurozone and Japan, China not only curbed the domino ripple in the country with a bolder-than-predicted stimulus package but also succeeded in effecting a lead in the recovery.

It is its early lead off the blocks that is now being more than looked at by others.

Canadian Prime Minister Stephen Harper, soon to host the fourth G20 Summit, has described what China has done as a contribution to the global recovery and a great assistance to the international community in its crisis management.

Takashi Sekiyama, a senior researcher from Japan's Meiji University and with the Tokyo Consortium, has rated China's contribution to the global economic development during this hard period as the "biggest."

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