BEIJING - With successes achieved in its efforts to counter the global financial tsunami that broke out eight years ago, the Group of 20 (G20) now needs to structurally upgrade itself in order to take the global economy out of a low-growth trap.
Around the globe, many are fretting that the global growth is sliding into the snare of a persistent "new mediocre."
Against such a challenging backdrop, China is to host the 11th G20 summit in the eastern city of Hangzhou next month. Hopes are running high that the world's second largest economy will help draw a roadmap that could show a way out of the predicament of low-growth.

The G20 started off as a forum featuring regular meetings of finance ministers and central bank governors of the world's major economies and was remodeled to a summit for leaders of 19 major economies and the European Union (EU) in the aftermath of the crisis. (Xinhua)