Japan, China Pledge help

but China is not ready to go!

According to the wall street journal on November 17, 20008, Japan has promised $100billion in loans to boost the resources of the IMF, while China has offered Pakistan a $500 million package of aid.

Despite being the only country with larger reserve of foreign currency than Japan with nearly $2 trillion, China is said to have no intention in rescuing the emerging economies hardly hit by the worst financial crisis since 1929. That really played down expectation from worldwide saying focusing more on prectecting their domestic economy is increasingly important to the world economy! ? Is China playing game again?

Japan hold about $1 trillion of foreign currency, 1/2 the amount China possesses, but this island country promise to provide fund to the Washington based instution when needed. So Japan is no longer in question about how it should use its massive amount of foreign currency. Both Chinese and Japanese government was blamed for not using its currency to invest aggressively.