Officials in the United States and Japan have urged global financial leaders and central bankers to make the Chinese economy a key focus of talks of the Group of Twenty major economies when they meet on Friday and Saturday in Turkey. Just how much will be accomplished during the talks, however, is uncertain, analysts said.

China’s market turmoil and devaluation of its currency last month sent shockwaves through global stock and commodity markets in recent weeks. Stocks in China plunged nearly 40 percent since a high in mid-June and a slew of poor economic data that followed further fueled concerns.

… Oh Ei Sun, a senior fellow at the S. Rajaratnam School of International Studies in Singapore, said China is trying to balance very gingerly between building a free market economy and a free economy with Chinese characteristics.

“I don’t think there’s a consensus in more transparency of the economic decision-making process in China because China views outsiders with suspicion… and the economic policy-making process is seen as a matter of national security and national interests, which Chinese authorities won’t subject to the prying eyes of foreigners,” he said.