The Chinese President Hu Jintao met with leaders of Brazil, Russia, India, and South Asia on Thursday in France. The meeting took place ahead of the Group of 20 (G20) to discuss the world’s dismal economic conditions and to encourage cooperation between the countries. Jintao also said the European economies progress was crucial for the recovery of the global economy. He conveyed his country’s hopes that Europe would be able to come out of its current economic predicament. The Chinese leader warned that many developing countries are facing inflationary pressures, and urged countries to try and keep a balanced and relatively rapid economic growth.
The Cannes G-20 summit will address the major problems affecting the world economy, suggest measures for the recovery, and the stability of the global financial market.