Sunday, December 14, 2008

Japan, China, S. Korea working together?

Can the economic crisis do what the past 60+years hasn't been able to do ... namely allow three WWII scarred countries to work together? Past meetings have been merely symbolic, with distrust tainting any real outcomes.

Saturday's Fukuoka, Japan, meeting was the first ever trilateral summit. Observers may have thought the meeting was vague, with promises for stimulating the economy and committing to no new trade barriers for the next year.

Yet, just the meeting alone is significant as the three nations, who have barely tolerated one another due to residual emotion and economic rivalries, came together in solidarity.

The most specific summit outcome is that Japan and China agreed to lend foreign currency to S. Korea. S. Korea has struggled the most with the crises. The three countries comprise 75% of the east Asian economy.

The next summit is scheduled for next year in China.




http://english.aljazeera.net/news/asia-pacific/2008/12/200812138361719177.html
http://www.nytimes.com/2008/12/14/world/asia/14japan.html
http://english.aljazeera.net/news/asia-pacific/2008/12/200812138361719177.html
http://hosted.ap.org/dynamic/stories/A/AS_JAPAN_TRILATERAL_SUMMIT_ASOL-?SITE=YOMIURI&SECTION=HOSTED_ASIA&TEMPLATE=ap_national.html

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