With the third G20 (Group of 20) summit coming to an end in Pittsburgh on Friday, a "roadmap" drawn up for the "post-crisis era" by G20 leaders begins to unfold.

The roadmap once again makes it clear that the world's primary task at present is to counter the international financial crisis and to promote a healthy world economic recovery. It will also definitely exert a significant influence on the world's financial future.

During the summit, leaders warned repeatedly that the process of recovery and repair remains incomplete despite the fact that the international community's confidence has increased, financial markets have moved towards stability and the world economy has seen positive changes.

Thus, the world should stay alert against any possible adverse impact of the stimulus packages, especially the potential risk of inflation. The G20 leaders agreed that the so-called exit strategy should be used with care in order not to upset skittish financial markets and impede their fragile recovery.

In terms of financial reforms, G20 leaders agreed to rein in financial industry excesses that triggered the credit crisis two years ago. Tighter rules on how much capital banks must have to absorb losses should be ready by the end of 2010 and will be phased in during the following two years.

This decision was reiterated in Chinese President Hu Jintao's speech at the summit. Hu conceded that the international economic and financial situation was now improving, but the world should be as resolved as ever to advance the reform while not lowering reform aims.

The summit's leaders agreed to shift 5 percent more voting power at the International Monetary Fund (IMF) to some developing countries.

This is a historic decision, but it still failed to fully redress IMF imbalances as some main emerging countries remain underrepresented in the organization. The world should continue to make efforts to increase the representation of these countries and push for substantive progress in the reform.

Meanwhile, the international community should improve the existing decision-making process and mechanism in international financial institutions, especially in the IMF and the World Bank, and encourage more extensive and effective participation of all parties.

At the same time, the world should resolutely reject protectionism in all forms, uphold a fair, free and open global trading and investment system, and impose no new restrictions on goods, investment and service, and help negotiators conclude the Doha Round as soon as possible.

The issue of global economic imbalances has drawn a lot of attention from the international community in recent months.

Days before the two-day Pittsburgh summit, US President Barack Obama called for a framework to dramatically rebalance the global economy. Many analysts said that the US move was aimed at absolving the American consumers and the heavily indebted US government from the responsibility for prolonged economic recovery.

German Chancellor Angela Merkel warned that the US drive to rebalance the global economy risked distracting the G20 at the Pittsburgh summit from a more urgent need for market regulation.

During the meeting, Hu emphasized that China attached great importance to comprehensive, balanced and sustainable economic and social development.

China also believed that the main cause of global economic imbalances was the great development gap between the developed world and the developing countries. Only by promoting the development of the vast developing world could the world witness solid global economic recovery and sustainable world economic growth.

Besides, countries at different stages of development should be allowed to choose their own approach and pace suited to their national conditions. Space for development that the developing countries well deserve must not be compromised.

The roadmap drawn by G20 leaders specifies the path to the "post-crisis era." But a roadmap remains only a roadmap unless the world takes concrete measures to build upon the momentum that was generated during the meeting. Perhaps this is the only way the world can walk out of the current financial crisis and arrive at its destination: a durable economic recovery.

(Xinhua News Agency September 27, 2009)