InfoAnda - Europe-Asia summit looms under Japan-China shadow

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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Europe-Asia summit looms under Japan-China shadow AFP - 2 hours 44 minutes ago Send IM Story Print Europe-Asia summit looms under Japan-China shadow BRUSSELS (AFP) - – European and Asian leaders huddle Monday for three days of summits in Brussels focused on economic ties but a spat between Japan and China threatens to steal the show. Heads of state and government from the 48-member Asia-Europe Meeting (ASEM) will hold a two-day summit followed by separate European Union talks Wednesday with South Korea and China. But all eyes will be on whether Chinese Premier Wen Jiabao and Japanese Prime Minister Naoto Kan will meet face-to-face to ease tensions over a maritime incident near a disputed island chain. Asia's two largest economies have been embroiled in a tense diplomatic standoff since Japan's arrest on September 8 of a Chinese trawler captain near the East China Sea islands, called Senkaku in Japan and Diaoyu in China. Japan has released the captain, but tensions remain with Beijing freezing high-level talks. In an apparent conciliatory move, Tokyo signalled Kan's intention to go to Brussels but Japanese media downplayed the chances of a bilateral meeting with Wen. Japanese Foreign Minister Seiji Maehara sought Sunday to put a lid on anti-Beijing sentiment in Japan, insisting the two countries were "good neighbours." For the EU, the summits are a chance for the 27-nation bloc to tighten its links with Asia and reassert itself as a major world player, analysts say. "None of Europe's key challenges can be tackled successfully without closer engagement with Asia," said Shada Islam, senior programme executive at the European Policy Centre think tank. "The EU must use the meeting to give a signal that it is not becoming 'irrelevant' on the global stage as some in Asia claim." In Athens before heading to Brussels, Wen told Greek lawmakers he was committed to improving EU-China relations. "I am convinced that a strong Europe is irreplaceable," he said. "China wants to promote and strengthen strategic links with the European Union." Wen, whose country holds the world's biggest foreign exchange reserves, pledged to support the euro and facilitate investments in China, but he also urged Europeans to "limit protectionism." Europe and the United States have butted heads with China over its currency, accusing Beijing of deliberately keeping the yuan artificially low to boost exports, causing a huge trade imbalance. The EU is also expected to raise concerns about human rights in China during the China summit on Wednesday. Economic issues will likely dominate the meeting of ASEM nations, which represent 60 percent of the world population and global trade. ASEM, which meets every two years, groups the EU, the 10-member Association of Southeast Asian Nations (ASEAN), China, Japan, South Korea, India, Pakistan and Mongolia, and new members Australia, New Zealand and Russia. Reform of the IMF will likely feature high on the agenda after the EU signalled Friday its willingness to cede some power at the international lender to emerging powers, which say Europe is over-represented. On climate change, ASEM leaders will share the goal "of reaching urgently a fair, effective and comprehensive legally binding outcome," according to a draft statement obtained by AFP. "Deep cuts in global emissions are required" to ensure the increase in global temperature remains below two degrees Celsius (3.6 degree Fahrenheit), it says. The ASEM summit coincides with a final preparatory meeting in the northern Chinese city of Tianjin for UN climate talks opening in November in Cancun, Mexico. Hopes are low that any binding deals on cutting greenhouse gas emissions can be reached in Cancun amid lingering bitterness following the Copenhagen summit in December which failed to secure emissions-reduction commitments. 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