There has been an increasing need for a new platform of global governance in the circumstance of deepened globalization,strengthened economic power of the emerging economies and recurrence of economic and financial crisis.The new platform should ensure that both advanced and emerging economies can play a role in coordinating individual countries' macroeconomic policies,designing rules and codes of conduct and facilitating economic development.One of the tough issues facing G20 is global rebalancing which has troubled the world economy for decades because of its prolonged and destructive effects and difficulty in policy-coordination among countries.That is because global imbalance has been prolonged and destructive for the world economy for decades.The paper provides an analysis of the features and causes of global imbalance,a review of G20's agenda and the outlook for global rebalance. <<