Bush to attend APEC summit: China

Bush to attend APEC summit: China

BEIJING (Dow Jones): U.S. President George W. Bush has assured China of his attendance at next month's Asia Pacific Economic Cooperation meeting, salving concerns of a late withdrawal from Shanghai's showcase summit.

Beijing's leadership has been concerned that the key leader in the Asia Pacific region might be forced to cancel, tarnishing a keynote event which China has spent almost a year organizing and promoting.

A foreign ministry spokesman said China understands the U.S. decision to postpone a state visit by Bush to Beijing, which had also been planned next month, due to the current international climate.

Bush will now make a lightning visit to Shanghai for the two- day APEC leadership meeting on Oct. 21-22, squeezing in a Sino- U.S. summit with Chinese counterpart Jiang Zemin.

Foreign Minister Tang Jiaxuan was dispatched to the U.S. last week both as a show of solidarity for Washington's global antiterrorist campaign and to prevent an APEC no-show by the top U.S. draw card.

The agenda is now likely to focus on the economic fallout, particularly as many analysts predict that a loss of consumer confidence in the U.S. triggered by the terrorist attacks could tip the world into recession.

"The attacks have sent huge ripples around the global community and its economic impact can be felt around the world, including the Asia-Pacific" Zhu told a regular news briefing. "Attention will be paid to the issue in the APEC gathering in the necessary way."

CLSA Ltd. China strategist Andrew Rothman said hosting APEC means a lot to China and any failure by the U.S. President to attend would have had a significant impact on the success of the meeting.

Rothman said there is also a big incentive for the Bush to come to Shanghai as it will give him a chance to talk informally with regional leaders including those from Islamic countries such as Malaysia and Indonesia.