Originally published by the Voice of America (www.voanews.com). Voice of America is funded by the US Federal Government and content it exclusively produces is in the public domain. December 13, 2008 Asian Powers Vow to Jump-Start World Economy -------------------------------------------- http://enews.voanews.com/t?ctl=2101710:A6F02AD83191E160ECC7E9626D22589E2A201403E89ED254& Leaders of China, Japan and South Korea make bold pledge during unprecedented summit in southwestern Japan Japanese PM Taro Aso (c), S. Korean President Lee Myung-Bak (l) and Chinese Premier Wen Jiabao after meeting in Japan, 13 Dec 2008 East Asia's dominant economic powers are promising to help revive the ailing global economy. The leaders of China, Japan and South Korea made the bold pledge during an unprecedented summit Saturday in southwestern Japan. They say they will work together to boost their manufacturing sectors and increase demand, while helping each other to avoid mistakes that have hurt the economies of other countries. Japanese Prime Minister Taro Aso, Chinese Premier Wen Jiabao and South Korean President Lee Myung-Bak also say they will set up a regional fund to help stabilize the region's economies, and give more money to the Asian Development Bank. China, Japan and South Korea make up 75 percent of the East Asian economy, and account for almost 17 percent of the world's economic output. The three countries say they now plan to hold three-way summits on an annual basis. The failure of U.S. lawmakers to help America's ailing auto industry has been rattling economies around the world, sending the major Asian stock indexes down more than five percent Friday. Japan said Friday it will spend $255 billion as part of a stimulus package aimed at homeowners and the country's financial markets. China also is promising help, with loans and other possible measures aimed at its auto and steel industries. In Europe, members of the European Union put aside differences to support an almost $260 billion stimulus plan. Some information for this report was provided by AFP and Reuters. .