Global Geopolitics Net Sites / IPS
Monday, October 27, 2008
All rights reserved, IPS – Inter Press Service, 2008.
Antoaneta Bezlova
BEIJING, Oct 27 (IPS) – A two-day meeting of European and Asian leaders in Beijing has produced a joint statement pledging a coordinated response to the global financial crisis, but concrete action is seen dependant on the entry of Asia’s emerging economies into global policy-setting institutions.
The leaders emerged from the ASEM meeting on Saturday, calling for an ”effective and comprehensive reform of the international monetary and financial systems” through consultations with ”all stakeholders and the relevant international financial institutions”.
While little specifics were offered on what would replace the Bretton Woods system, that has governed international finance since the end of World War II, European politicians appraised the meeting as a success in drawing the support of Asian countries for reshaping the global economic structure.
[Read more...]
