The Hot Zone
China's newly announced air defense identification zone over the East China Sea aims to shore up national security
Current Issue
· Table of Contents
· Editor's Desk
· Previous Issues
· Subscribe to Mag
Subscribe Now >>
Expert's View
Market Watch
North American Report
Government Documents
Expat's Eye
Photo Gallery
Reader's Service
Learning with
'Beijing Review'
E-mail us
RSS Feeds
PDF Edition
Reader's Letters
Make Beijing Review your homepage
Hot Links

cheap eyeglasses
Market Avenue

Beijing Review Exclusive
Special> Shanghai Cooperation Organization 12th Summit> Beijing Review Exclusive
UPDATED: November 14, 2011 NO. 46 NOVEMBER 17, 2011
Beyond Europe
Facing the EU debt crisis, the SCO pushes for regional financial security

Crisis response


EDUCATIONAL TIES: Chinese Premier Wen Jiabao visits a high school in St. Petersburg on November 6 (YAO DAWEI) 

A highlight of the SCO prime ministers' meeting this year was the joint statement issued at the closing. It was the first time for SCO prime ministers to issue a joint statement on the economic situation of the world and the SCO region, said Chen Yurong, Director of the Department for SCO Studies at the China Institute of International Studies.

The statement addressed the most sensitive and difficult problem in the world today—the aftermath of the global financial crisis, the CICIR's Wang said.

"If the ongoing European sovereign debt crisis cannot be properly solved, it will cause domino effects," he said. "Its deterioration will hinder progress in world economic recovery and endanger the economies of China, Russia and other SCO members."

It was of great significance for the organization to clearly express its stance on this issue, Wang said.

The joint statement showed SCO member states realized insufficient financing and lack of supervision were the major reasons for the global financial crisis, Chen said.

It was urgent for the SCO to accelerate regional economic integration, strengthen financial cooperation, smooth financing channels and ensure big cooperative projects are adequately funded, she said.

Amid the increasing uncertainties of global markets, SCO member states should further strengthen economic cooperation in a bid to minimize the negative effects of the global crisis on their banking and financial sectors, said the statement.

According to the statement, SCO countries will continue to work with the international community toward realizing the goal of establishing a "just, fair, inclusive and harmonious global financial order" that can make all countries benefit from globalization.

   Previous   1   2   3   Next  

Top Story
-Protecting Ocean Rights
-Partners in Defense
-Fighting HIV+'s Stigma
-HIV: Privacy VS. Protection
-Setting the Tone
Related Stories
-Troubled Times
-A Pressing Priority
-China's Stake in Europe
-Europe on the Brink
Most Popular
About BEIJINGREVIEW | About beijingreview.com | Rss Feeds | Contact us | Advertising | Subscribe & Service | Make Beijing Review your homepage
Copyright Beijing Review All right reserved