I hope IMF do not move. Asia can run the world much better than the evils .
BTW.. yes you are welcomed to NZ. I am committed to that. ======= S1000+ ======= --- On Sun, 4/12/09, xi <[email protected]> wrote: From: xi <[email protected]> Subject: Re: ASEAN-China. Exciting news. To: "World-thread" <[email protected]> Date: Sunday, April 12, 2009, 4:15 AM My comment: We have discussed several times about the crucial role that Southeastern Asia will play in the the global economy and how infraestructure projects in that area will push development in the corner where above 50% of world population lives. More good and exciting news about investments in ASEAN countries. It is important too because China’s proposals give Asean countries “another option” besides going to the International Monetary Fund or the Asian Development Bank for funding (1) in case the IMF does not evolve as expected. Also, "China has already signed currency swap agreements with Indonesia, South Korea, Hong Kong and Malaysia". Those swap agreements probably will expand and enhace, specially if the IMF does not move toward the super-sovereign currency fast enough. Peace and best wishes. Xi Chinese FM: China shows sincerity, responsibility, confidence in East Asian cooperation http://news.xinhuanet.com/english/2009-04/12/content_11170945.htm quotes from it: "China plans to establish a China-ASEAN investment cooperation fund totaling 10 billion U.S. dollars designed to promote infrastructure construction that will better connect China and the ASEAN nations, Yang said. Over the next three to five years, China plans to offer a credit of 15 billion dollars to ASEAN countries, including loans with preferential terms of 1.7 billion dollars in aid to cooperation projects between the two sides. China also plans to offer 270 million yuan (39.7 million dollars) in special aid to Cambodia, Laos and Myanmar to help those countries overcome difficulties amid crisis, and to inject 50 million dollars into the China-ASEAN Cooperation Fund. China plans to provide 300,000 tons of rice for the emergency East Asia rice reserve to strengthen food security in the region. China will also provide training for 1,000 agricultural technicians for the ASEAN nations in the upcoming three years, offer an extra 2,000 Chinese government scholarships and 200 Master's scholarships for public administration students from the developing member countries of the East Asia Summit over the next five years, and donate 900,000 dollars to the ASEAN Plus Three Cooperation Fund, Yang said. The premier had also intended to exchange views with other leaders on the multilateralization of the Chiang Mai Initiative, the construction of the Asian bond markets, expansion of foreign currency reserve pools, widening bilateral currency swap agreements, and efforts to promote the construction of the ASEAN Plus Three free trade zone. " ... "The China-ASEAN free trade zone, if established in 2010 as planned, would further strengthen relations between China and ASEAN" (1) China Plans $10 Billion Asean Investment Funding http://www.bloomberg.com/apps/news?pid=20601087&sid=azo6VdjXJ7RY&refer=home April 12 (Bloomberg) -- China plans to create a $10 billion investment cooperation fund and offer $15 billion in credit to its Southeast Asian neighbors, extending its influence as the region attempts to weather the global financial crisis. The investment fund will promote infrastructure development linking China with the 10 members of the Association of Southeast Asian Nations, while the loans will be offered over three to five years, according to a statement on the Foreign Ministry Web site today citing an interview with Foreign Minister Yang Jiechi. The measures from the world’s third-largest economy, and one of the few forecast to maintain growth this year, may help speed recovery from the global financial crisis and cement China’s leadership in the region. The nation has already signed currency swap agreements with Indonesia, South Korea, Hong Kong and Malaysia this year to help ease foreign-exchange shortages and aid bilateral trade and investment. “China is going to take the opportunity of this crisis to further establish itself in Asia,” said Huang Jing, a visiting professor at the National University of Singapore’s Lee Kuan Yew School of Public Policy. “All this will have a huge political and diplomatic impact in the region, in addition to the economic impact.” Other planned measures include 270 million yuan ($39.5 million) in aid to Cambodia, Laos and Myanmar, and donation of 300,000 tons of rice to an emergency East Asia rice reserve to boost food security, the statement said. ‘Difficult Times’ Premier Wen Jiabao was to announce the proposals at the Asean summit that was canceled in Thailand this weekend. “Asean leaders hope China could play an important role in pushing forward cooperation in East Asia, and with other countries overcome the difficult times,” Yang said, according to the statement. Wen’s proposals reflect a resolve to “realize the Chinese government’s sincerity, responsibility and confidence in pushing forward Asean cooperation,” he said. Macquarie Securities Ltd. and China International Capital Corp. estimate that China’s economy will expand as much as 8 percent this year. The World Bank expects 6.5 percent growth. China’s proposals give Asean countries “another option” besides going to the International Monetary Fund or the Asian Development Bank for funding, Huang said. That may aid China’s standing with Asean, where memories are still fresh of the painful conditions imposed by the IMF in exchange for rescue packages during the 1997-98 Asian financial crisis, according to Huang. “Southeast Asian countries will welcome the proposal,” he said. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "World-thread" group. 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