This financial crisis，which can be rated as once-in-a-century in terms of scope of influence，has baptized the global economy，and it appears that it will be followed by a steady recovery with the coming of the next spring. In this crisis，the states do not operate separately as they usually did；instead，they deal with the crisis by combined operation，and thus reduce the gaming dilemma caused by Back-to-Back policy-making. It is certain that China will actualize V pattern recovery relying on its substantial accumulation and steady policies，while other emerging economies might more probably achieve “narrow-bottomed” U pattern recovery. Another noticeable thing is that emerging economies are more evident with respect to economic advantages and contribution，so that a gorgeous turn from G7 to G20 is no doubt. Substantive reform of the world economic system has raised its curtain in this crisis after many years of preparation.

Combined operation does not suggest consistent policies，because the states are at different levels of economic development and have varied reserves to deal with the crisis，which gives rise to different emphasis in terms of the direction and efforts of policies dealing with the crisis. Thus，combined operation of the states is more reflected in the incentive policies and the time for exit. In addition，combined operation does not signify that the interests of the Group 20 become a monolithic whole. Actually，there are policy games in dealing with the crisis and in profit making by taking advantage of the crisis among the developed economies as well as between developed economies and emerging economies to find a more favorable position in the rebuilding of the world economic order. There are big differences in the policy orientations taken by the states during economic recovery due to varied self-interests and different circumstances of economic development affected by the crisis. In view of three finance summits，the Group 20 has been splitting apart in that the formation of three camps has replaced the single-state world dominated by America. The EU advocates to reinforce global financial regulation，America calls on to continue to give impetus to global economy，and emerging states represented by the BRICs claim to reform the IMF and establish a new international monetary order.