October 25, 2008
By Times of London Online and news agencies
http://www.timesonline.co.uk/tol/news/world/asia/article5013331.eceEuropean and Asian nations have agreed to work more closely together to deal with the global economic crisis, Foreign Secretary David Miliband said today after the first day of talks at a summit in China.
The 43-nation Asia-Europe Meeting called for new international regulation and a stronger role for the International Monetary Fund in helping nations facing serious crises.
It comes ahead of an emergency meeting in Washington next month, which will bring together the leaders of the world's 20 most important economies for urgent discussions to agree solutions.
Mr Miliband said the meeting had highlighted the significant shift in economic power towards the east but also how interlocked everybody's interests were in tackling "deep imbalances" in the system.
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