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To: Bobby Yellin who wrote (9006)	3/29/1998 11:38:00 AM
From: goldsnow	Respond to of 116764

China card...the world may run-out of available industrial metals..spells inflation..If even Indo is a buy spells a lot of trouble for foreign money coming to "safe" havens China's Zhu Rongji takes to European stage 03:57 a.m. Mar 29, 1998 Eastern By Andrew Browne BEIJING, March 29 (Reuters) - China's new Premier, Zhu Rongji, meets European and Asian leaders in London this week on a trip that will highlight Beijing's key role in helping Asia escape its financial crisis. Zhu kicks off his first overseas trip since being elevated to Premier this month with an official visit to Britain starting on Tuesday. He stays on in London for the second Asia-Europe Meeting (ASEM) on April 2-3 before visiting France from April 5-7. A China-EU summit is scheduled on the sidelines of ASEM. ASEM will give China a new opportunity to project its emerging leadership role in Asia during the financial crisis. The region's economic troubles will dominate the meeting of 15 European and 10 Asian nations. In stark contrast to Asian economic superpower Japan -- criticised for not doing enough to lift Asia out of its woes -- China under Zhu's guidance has been winning plaudits by making all the right moves. Zhu has pledged not to devalue the Chinese currency and unleash China's export juggernaut on its weakened neighbours. He has also formulated a $32 billion plan to shore up the nation's shaky banks. In addition, China has announced plans for massive infrastructure spending -- figures range from $750 billion to $1.0 trillion -- to boost its economy. European nations will be seeking to repair damage from criticism among some Asian countries that they were slow to respond to Asia's plight. Britain has proposed a trust fund at the World Bank to provide technical assistance for financial restructuring in Asia and to assess the impact on poverty. London has offered to kick in five million sterling ($8.2 million). Thailand is expected to push for a restructuring of its debt; Korea will press for reassessment of its credit ratings. Zhu, 69, will be one of several newly-installed Asian leaders at the ASEM meeting. Others will include South Korean President Kim Dae-jung and Indonesian Vice President Yusuf Habibie. Despite prickly sensitivities in Asia, European countries are likely to bring up the issue of human rights, including the sexual exploitation of children. Several Asian nations are already bridling because of Europe's decision not to invite Burma to the gathering because of the harsh policies of its military government. Human rights will also be on the agenda when Zhu meets European Union leaders, although the atmosphere will be brightened by an EU decision to drop long-running attempts to censor Beijing at the latest U.N. Human Rights Commission meeting in Geneva. Last week, the European Union's executive called for a wide-ranging engagement with China as possibly ''one of the most important external policy challenges facing Europe and other partners in the 21st century.'' Zhu is likely to be feted on his official trip to London, where Prime Minister Tony Blair's government has pledged a new start to ties with China after what is generally regarded as a remarkably smooth handover of Hong Kong. Britain, like other European nations, is angling for infrastructure contracts as China builds everything from highways to telecommunications networks. The number three man in the Chinese Communist Party hierarchy is scheduled to meet Britain's Queen Elizabeth. ^REUTERS@