Our attention must focus appropriately on the areas where policy action and coordination are most critical and urgently needed. Global cooperation is needed to secure a more open trade system, accelerate comprehensive structural reforms and improve allocation of resources. It is of particular importance to remove impediments to productivity growth, particularly in the labor, product, and service markets.
Such actions are fundamental to strong and sustainable global growth. We also call on the IMF and the World Bank to explore ways to reallocate more resources to developing countries, raise their potential growth, and accelerate their income convergence with the developed world. II. Chinese economic developments and policies  The Chinese economy outperformed the expectations in the first half of 2009.