China, Japan to vie for Asian influence

THAILAND: China and Japan will battle for influence in Southeast Asia at a key summit this week, holding out the promise of economic aid as the region reels from the impact of the global downturn.

The Asian giants are trying to win not only the lion’s share of the market of more than five hundred million people but also the hearts and minds of the region to expand their diplomatic and political sway.

Tokyo and Beijing are the biggest contributors to a massive currency swap fund designed to provide emergency liquidity, which will be discussed at the three-day summit starting on Friday in the Thai resort of Pattaya.

But they will be making separate efforts to woo the region.

BANGKOK, AFP