1. The world economic recovery is very uneven.

Emerging economies such as China, Brazil, India, and Russia are growing strongly, and China's economic growth is expected to reach 10%; among major developed countries, although the United States has maintained its recovery momentum, its unemployment rate remains high at nearly 10%; Japan, etc.

Driven by the demand from emerging markets, export growth has promoted economic recovery, but its fiscal deficit is high and the debt scale is close to 200% of GDP. The Eurozone economy has generally maintained an upward trend, but has been dragged down by the sovereign debt crisis of many countries such as Greece.

Recovery and adjustment have been difficult.

Generally speaking, developed economies are generally facing structural adjustments in the post-crisis period, and it is difficult to achieve rapid and stable growth.

Due to the status and weight of developed countries in the world economy, their economic recovery status greatly affects the recovery of the entire world economy.

2. The foundation for world economic recovery is still fragile.

Developed countries generally face the risk of high fiscal deficits, which may become a factor affecting the sustainable growth of the world economy.

From Europe to the United States, fiscal deficits and government debt are intensifying. Once a sovereign debt crisis breaks out, financial markets will fluctuate significantly, dragging down the recovery of economic growth.

The successive debt crises in Iceland, Spain, Greece and Dubai have had a great impact on the recovery of the world economy.

(Greek debt crisis: In October 2009, the Greek government suddenly announced that the government fiscal deficit and public debt would account for 12.7% and 113% of GDP respectively, far exceeding the 3% and 113% stipulated by the EU for its members.

60% ceiling. In view of the significant deterioration of the Greek government's financial situation, global credit rating agencies have successively lowered Greece's sovereign credit rating, triggering the Greek debt crisis: In November 2009, the Dubai Finance Ministry announced that Dubai would be held by the government.

World Corporation and its real estate arm Palm Island Group will defer billions of dollars in debt repayments in order to restructure debt. According to an estimate by the New York Times, Dubai World Corporation's external debt is as high as $59 billion, accounting for 74% of Dubai's total debt.

. The creditors deeply involved in the Dubai debt crisis include HSBC Holdings, Royal Bank of Scotland and other well-known global banks.) Not only that, but the US financial industry, which is the source of the crisis, still has great uncertainties in its profit prospects.

For example, the Wall Street financial giant Goldman Sachs Group, which was caught in the "fraud scandal", was accused by the US Securities and Exchange Commission of committing fraud when selling financial derivatives of subprime mortgage-backed securities.

The news came out that as Goldman Sachs Group will face judicial investigations, the impact of its reputational damage on its business is difficult to estimate, triggering varying degrees of turmoil in global financial markets.

3. The reform of the international financial system is in full swing, but the structural problems that caused the crisis have not yet been fundamentally resolved.

The outbreak of the global economic crisis shows that the reform of the international financial system is a general trend and that it is crucial to build a new international financial order.

After the crisis, major countries and groups held summits one after another to reach broad consensus on the reform of international financial institutions and financial supervision.

Because today's two major international financial institutions, the International Monetary Fund and the World Bank, originated from the Bretton Woods Conference in 1944, they reflected the world economic structure dominated by Europe and the United States at that time.

As decades have passed, emerging markets and developing countries have become more and more important in the world economy. It is imperative to increase the voice of developing countries in the two major institutions.

At the Pittsburgh Financial Summit, representatives of participating countries unanimously agreed to transfer 5% and 3% of the IMF and World Bank quotas to developing countries respectively.

At the IMF and World Bank meetings, it was also decided to transfer 3.13 percentage points of voting weight from developed countries to developing countries.

This reform progress of the World Bank has brought the overall voting power of developing countries and countries in transition to more than 47%.