Jan 27

Chiang Mai Initiative Multilateralization

BEIJING China and Japan want to lead to regional recovery from the global financial crisis by promoting their own domestic demand and helping Asian neighbors, Japanese Prime Minister Taro Aso said. The two nations agreed to work together to promote macroeconomic policies based on domestic demand, to deter protectionism and assist other Asian nations, Aso told reporters after talks with Chinese President Hu Jintao. I think it is important that we do our utmost, centering on our domestic economies, for the Asian and Nike Free Run Australia the world economy, Aso said. The agreement to cooperate between the world s second and third-largest economies to overcome the financial crisis was the most important achievement of Aso s two-day visit to China, which began on Wednesday, he said. In a speech in Beijing earlier on Thursday, Aso urged Japanese and Chinese young entrepreneurs to cooperate more closely in tackling the financial crisis. I believe we Nike Free Run Australia could learn a lesson from the crisis and build a stronger economy and a management mechanism as well, he said. Aso said Japan and China should promote a regional framework for cooperation and dialogue, including the Chiang Mai Initiative Multilateralization, a regional pool of foreign currency reserves, and large infrastructure projects in Asia.

It’s extremely important that Japan and China, the world s second and third largest economies, keep in step with each other, he said when talking about tackling the economic downturn. We confirmed that Japan and China jointly work on issues such as macroeconomic policy centered on measures to boost domestic demand, preventing protectionism, supporting other Asian and Nike Free 5.0 developing countries. Cooperation between China and Japan key to Asia was realizing its great potential as an open center of economic growth, he said. In his talks with Hu earlier and with Premier Wen Jiabao, China and Japan also agreed to share information and cooperate closely in fighting the spread of swine flu canada dunk nike, Aso said. They promised to increase cooperation in energy saving and environmental protection, and agreed to make joint efforts to revive stalled six-nation talks on ending North Korea s nuclear weapons Programme, he said.