Saturday, October 25, 2008

ASEM looks toward fast Asian growth

Leaders met at the Asia-Europe Meeting (ASEM) with much focus on Asia's role as an economic growth engine in the coming years.

With the world rocked by the financial meltdown and many developed nations facing recession or worse, a number of Asian countries led by China are still expected to grow in the short to mid term.

French President Nicolas Sarkozy said that rapid economic growth in Asia was key to digging out of the current mess. Asia has about $4.36 trillion in currency reserves with China owning $1.9 trillion of that total.

Washington Post
Chinese foreign minister says ASEM summit was productive
Xinhua - 43 minutes ago
BEIJING, Oct. 25 (Xinhua) -- Chinese Foreign Minister Yang Jiechi Saturday summarized the achievements of the seventh Asia-Europe Meeting (ASEM) summit saying it "reaped rich fruits".
China Calls for More Work to Solve Global Economic Crisis Voice of America
World leaders pledge financial reform as gloom deepens AFP