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Leaders gather for Shanghai talks Leaders gather for Shanghai talks
(about 8 hours later)
Chinese President Hu Jintao and other leaders are gathering in Russia for the ninth Shanghai Co-operation Organisation summit.Chinese President Hu Jintao and other leaders are gathering in Russia for the ninth Shanghai Co-operation Organisation summit.
Some will also attend the first summit of the four emerging economies - Brazil, Russia, India and China.Some will also attend the first summit of the four emerging economies - Brazil, Russia, India and China.
The main agenda item at the meetings in Yekaterinburg will be how to deal with the global economic crisis.The main agenda item at the meetings in Yekaterinburg will be how to deal with the global economic crisis.
Putting the two top-level meetings next to each other highlights the dominance of the economic crisis for both groups.Putting the two top-level meetings next to each other highlights the dominance of the economic crisis for both groups.
The two meetings are further signs of a global power shift.The two meetings are further signs of a global power shift.
The Shanghai Co-operation Organisation, or SCO, was formed in 2001 by China, Russia and the four Central Asian nations of Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan to curb extremism in the region and enhance border security.The Shanghai Co-operation Organisation, or SCO, was formed in 2001 by China, Russia and the four Central Asian nations of Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan to curb extremism in the region and enhance border security.
India, Pakistan, Iran and Mongolia later joined as observer members.India, Pakistan, Iran and Mongolia later joined as observer members.
It was China's answer to a multi-polar world and increasingly it has played a role in promoting regional security, for example by contributing to reconstruction in Afghanistan.It was China's answer to a multi-polar world and increasingly it has played a role in promoting regional security, for example by contributing to reconstruction in Afghanistan.
Trade growthTrade growth
Under the current economic crisis, however, SCO countries are seeking to develop co-ordinated measures to stabilise their economies and maintain growth in Eurasia through multilateral trade and co-operation.Under the current economic crisis, however, SCO countries are seeking to develop co-ordinated measures to stabilise their economies and maintain growth in Eurasia through multilateral trade and co-operation.
Trade between China and the other five full members has grown from $12bn (£7.3bn) in 2001 to $68bn in 2007.Trade between China and the other five full members has grown from $12bn (£7.3bn) in 2001 to $68bn in 2007.
There have been moves to build a single energy market and a common transportation corridor within the SCO.There have been moves to build a single energy market and a common transportation corridor within the SCO.
The energy-thirsty China will benefit from all this, but China has also provided training and other services in return.The energy-thirsty China will benefit from all this, but China has also provided training and other services in return.
Leaders from the emerging economies of Brazil, Russia, India and China, the so-called Bric countries, will hold their first ever summit in Russia on Tuesday.Leaders from the emerging economies of Brazil, Russia, India and China, the so-called Bric countries, will hold their first ever summit in Russia on Tuesday.
The term Bric was coined in the same year the SCO was setup. The term Bric was coined in the same year the SCO was set up.
The last eight years have seen a shift of power both politically and economically, with China as the biggest winner.The last eight years have seen a shift of power both politically and economically, with China as the biggest winner.