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The leaders of the G20 members meet here on Sunday to discuss ways to better fulfill the group's mandate of promoting strong, balanced and sustainable growth.
Seven years after the global financial meltdown, there is still little sign that the world economy is on the right track back to strong recovery. Growth is not picking up, trade is weak, and investment is slowing down. Some experts cautioned that a recession is imminent.
Earlier, the Paris-based Organization for Economic Co-operation and Development (OECD), trimmed in its twice-yearly outlook the forecast for global economic growth to 2.9 percent this year and 3. 3 percent in 2016, down from the previous predictions of 3.0 percent and 3.6 percent, respectively. The International Monetary Fund (IMF) has also made similar pessimist projections recently.
In last year's summit in Australia's Brisbane, the G20 set itself an ambitious goal to lift their gross domestic product by at least an additional two percent by 2018, agreeing on measures to lift investment, trade and competition, and employment.
However, Tristram Sainsbury, research fellow with G20 studies center at Lowy Institute for International Policy, said the G20 growth strategy is not adding to growth, and that the G20 members need to do more to coordinate their pro-growth policy.
Taking over the baton, Turkey, the host of the summit, has highlighted the "three Is", inclusiveness, implementation and investment, on G20's agenda to revitalize a sluggish global economy.
Global economic governance also needs the determination and political will to carry out necessary reforms, such as the 2010 IMF quota reforms, and to finalize the long-stalled Doha round of trade talks as soon as possible.
As the two-day summit convenes, the G20 leaders are expected to discuss these key economic topics, including inclusive growth, employment and investment, as well as financial regulation.
On the eve of the summit, a wave of terrorist attacks rocked the French capital of Paris, killing 129 people and injuring many more. The Islamic State (IS) militant group has claimed responsibility. The G20 is expected to put out a statement on fighting terrorism later Sunday.
The IS has also said that it was behind the Oct. 31 crash of a Russian airliner over Egypt's Sinai and suicide bombings in Lebanon last Thursday.
In Antalya, Turkey has beefed up security for the summit, and deployed at least 12,000 security personnel.
Turkey has come under a spate of terror attacks lately since it launched in late July simultaneous attacks on targets of IS inside Syria and the outlawed Kurdistan Workers' Party (PKK) in the country's southeast and northern Iraq.
A total of 102 people were killed on Oct. 10 when twin suicide bombings hit a peace rally in Ankara, Turkey's capital, marking the deadliest attack in the country's modern history.
Refugee crisis is also going to be included in the summit's agenda. A four-year-old war in Syria has spilled over, forcing millions of people to flee to Turkey, Lebanon and other countries. Enditem
