Ending a summit in Beijing, they also urged the International Monetary Fund (IMF) to play a greater role in helping countries hit by the market turmoil.
UN chief Ban Ki-moon called for action to help affected developing nations.
Chinese Prime Minister Wen Jiabao said Beijing would take an active role at a summit of world leaders to be held in Washington next month.
Leaders attending the 43-nation Asia Europe Meeting (Asem) agreed ...
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Short but factual report about the recent summit of Asian and European leaders in Beijing, and their call for comprehensive reform of the global financial system. Only a couple sources are cited, including UN Chief Ban Ki-moon and Chinese prime minister Wen Jiabao, without any independent perspectives.
The biggest insight for me was Ban's comment that the crisis could be the last straw for many of the world's poorest people.
Not much new or very newsworthy. It also includes little context--such as the fact that the IMF has already started granting bailout loans to countries hard-hit by market turmoil. Also, what nobody has examined is where the IMF will continue to get funding, and under what terms they are lending. In their past, the terms have been ruinous--which could prolong the misery.
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