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G20 Summit kicks off in Pittsburgh
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The G20 Summit has started in Pittsburgh in the United States. G20 leaders are expected to shore up their positions on global economic recovery, financial regulatory reform and world trade issues during the two-day summit.
President Hu Jintao is expected to outline China's stance on issues concerning the global economy. Diplomats say China hopes to achieve positive results in macro-economic policy coordination and protectionism reform.
It's the third time within a year G20 leaders have met to tackle the global financial meltdown.
As host President Barack Obama and his wife greet economic and political leaders and their spouses, the mood at this summit is considerably more up beat than the previous two.
Leaders had a panic-free agenda during an opening dinner, followed by a full day of talks on Friday.
But nerves are still on edge. The global recovery remains uncertain, with many big financial institutions under strain.
G20 leaders will be taking stock of the overall world economy. They must decide on whether to curb bank executives' pay, set universal rules for bank reserves and plot an exit strategy from trillions in stimulus spending.
Meanwhile, leaders from developing countries attending the summit are hoping for a stronger voice in steering the world economy.
Dozens of poor countries are still reeling from the economic downturn. For them, the summit offers hope of guiding them out of recession.
The US President pledged G20 leaders will work together to ensure the world economy grows on a sustainable and balanced pattern.
Barack Obama, US President, said, "In Pittsburgh, we will work with the world's largest economies to chart a course for growth that is balanced and sustained."
Russian President Dmitry Medvedev believes there is still room for improvement in the G20. He points out the group has not reached agreement on a number of issues and must work more efficiently.
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