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Japan, China agree to help world economy

business Updated: Dec 13, 2008 13:41 IST
Reuters
Japan

Japanese Prime Minister Taro Aso and Chinese Premier Wen Jiabao agreed on Saturday to collaborate in helping the world economy escape from downturns in the midst of financial crisis, a Japanese foreign ministry official said.

The two underscored the need to bolster domestic demand in their economies as well as in South Korea, in a meeting ahead of a rare trilateral summit that will also include South Korean President Lee Myung-bak.

The summit in southern Japan comes one day after the collapse of a bailout for U.S. auto makers that sparked sell-offs in global stock markets and sent the dollar to a 13-year low against the yen.