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Summit of China, S Korea, Japan 'meaningful'
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The trilateral summit of Chinese, South Korean and Japanese leaders was meaningful as it revealed a feasibility that the three countries can lead in finding out a way to achieve coexistence and common prosperity in the Pacific Rim, South Korea's Yonhap News Agency said in a commentary on Sunday.

The mechanism of trilateral summit of South Korea, China and Japan set up a framework for new order in Northeast Asia, the commentary said.

It described the agreement on financial cooperation reached by the three nations as a highlight of the summit, adding that their joint efforts are of great significance when the world economy and global financial market are facing crisis.

The most valuable gain of South Korea was the South Korea-China and South Korea-Japan currency swap deals reached ahead of the trilateral summit as they will help stabilize the unrest in foreign currency market, it said.

On Friday, South Korea's central bank announced agreements with its Japanese and Chinese counterparts to expand the ceiling of their respective foreign currency credit swap lines to 30 billion U. S. dollars respectively.

(Xinhua News Agency December 15, 2008)

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