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Global finance reform needed says China's Wen to British PM
Beijing (AFP) Nov 7, 2008 Chinese Prime Minister Wen Jiabao Friday told his British counterpart Gordon Brown that efforts to address the financial crisis should centre on global financial system reform. "To conquer the financial crisis we need coordinated global action that includes the establishment of a fair, just and ordered global financial system," China's Foreign Ministry quoted Wen as telling Brown during a telephone conversation. "China supports the reform of the international financial organisation which must play an active and constructive role in addressing the current crisis." No details of Wen's reform plan was made public. The two prime ministers also discussed the November 15 meeting of the leaders of the Group of 20 industrialised nations that will focus on the financial crisis, the ministry said in a statement on its website. Wen pledged China's cooperation during the meeting. Chinese President Hu Jintao will attend the summit. During the phonecall, Wen outlined the policies the Chinese government is taking to maintain "balanced and fast-paced" economic growth while addressing the financial crisis and the downturn in world economic growth, the Foreign Ministry said. "Maintaining the relatively fast-paced development of China's economy is in the interest of the world," the ministry quoted Brown as saying. "Britain lays importance to the...role of China in pushing forward the reform of the global financial system and addressing the current financial crisis." The G20, includes the seven major industrialised nations -- Britain, Canada, France, Italy, Japan, Germany and the United States -- plus Argentina, Australia, Brazil, China, India, Indonesia, Mexico, Russia, Saudi Arabia, South Africa, South Korea and Turkey. Share This Article With Planet Earth
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Give developing world more say in global finance bodies: China
Beijing (AFP) Nov 6, 2008China called Thursday for developing countries to be given more say in world financial bodies like the World Bank as it prepared to take part in a world summit in Washington on the financial crisis. |
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