Author: charles koon
Date: 04-09-12 06:05
I cannot fathom out why the good Internationalism is extended to the West by China, knowing from its own history and few years before the Beijing Olympic Games, how dangerous and unreliable those countries are.
http://www.smh.com.au/business/china-and-japan-agree-to-join-forces-in-assisting-imf-20120408-1wjfh.html
CHINA and Japan will work more closely together to help support the International Monetary Fund as it attempts to prevent the euro debt crisis dragging down the global economy.
But the Asian region's two biggest economies have yet to decide to provide the IMF with more money, even though the fund's member countries have been asked for up to $US500 billion ($485 billion) in additional lending resources to help shield the global economy from Europe's financial woes.
Finance ministers from Japan and China met in Tokyo at the weekend, before a meeting of the Group of 20 countries in Washington this month.
Japan's Finance Minister, Jun Azumi, said the two countries had agreed to hold high-level talks over financial contributions to the IMF.
''Rather than make decisions independently, we've agreed to consult each other very closely,'' Mr Azumi said after meeting Xie Xuren, China's Finance Minister. ''Europe's crisis hasn't ended … this still needs careful monitoring.''
IMF members have been reluctant to pitch in until European nations do more to help themselves. The United States, which has the biggest financial stake in the IMF, has refused to increase its contribution.
Mr Azumi's comments come after the IMF's managing director, Christine Lagarde, put pressure on the US last week to provide more support to the IMF.
''Americans might ask themselves: why should what happens in the rest of the world concern us? Don't we have our own problems?'' Ms Lagarde said. ''The answer is simple: in today's world, we cannot afford the luxury of staying in our own mental backyards.''
Figures issued at the weekend show US employment payroll numbers increased by 120,000 in March, the smallest rise in five months, according to US Labour Department figures.
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