The Group of 20 (G20) summit, slated for April 2 in London, will be the second time since last November's Washington summit that leaders from both developed and developing countries sit together in the quest for solutions to the global financial crisis and the slowdown of the world economy.

From Washington to London, countries around the world have tried all possible means at their disposal to stem the spread of the crisis and revive a sagging global economy. Worldwide efforts have been centered on the three aspects of fiscal policy, monetary policy and international cooperation.

Fiscal policy -- economic stimuli

Faced with the unprecedented crisis, many countries have unveiled economic stimulus plans whose scales range from a couple of billion dollars to Washington's staggering US$787 billion.

The massive US stimulus package includes roughly US$286 billion in tax cuts, US$54 billion for cash-strapped states, US$311 billion in appropriations, US$37.5 billion for energy infrastructure, US$24.3 billion for those hit hard by the crisis and US$7.8 billion for law enforcement and other programs.

Many economists believe the massive bill might cushion the impact of the crisis, but could not be a quick fix for the downward spiraling US economy.

Joseph Stigliz, a Nobel Prize-winning economist at Columbia University and former chief economist at the World Bank, said the stimulus package was "probably too little, especially given that it is badly designed (and) we haven't yet fixed the mortgage problem so the financial sector is likely to continue bleeding."

In Europe, the European Commission unveiled late last year a significant economic stimulus package worth 200 billion euros (US$260 billion), amounting to 1.5 percent of the gross domestic product (GDP) of the European Union (EU). The package includes tax reductions and public spending increases.

In addition to the EU's overall stimulus package, some European countries put forward their own economic stimulus plans. The German parliament has approved two economic stimulus packages since November -- one is worth 32 billion euros (US$40 billion) and the other 50 billion euros (US$62 billion), with the latter being the country's largest rescue package since World War II.

The Dutch government's package amounts to 6 billion euros (some US$7.5 billion), representing 1 percent of the Dutch GDP.

Britain put forward a 20-billion-pound (US$29 billion) stimulus plan, also accounting for 1 percent of its GDP.