China concerned by SE Asian chaos

China concerned by SE Asian chaos

BEIJING (Reuters): China is concerned about Southeast Asia's
financial crisis but thinks it is temporary, a foreign ministry
spokesman said yesterday.

But the spokesman, Tang Guoqiang, declined to say whether
China would provide financial support to Indonesia.

"We are concerned about the financial crisis in Southeast
Asia, but we think the difficulty facing Southeast Asia is
temporary," he told a regular news briefing.

Tang did not give a direct answer when asked whether China
would provide financial support to Indonesia.

But he urged international financial institutions to lend a
helping hand.

"Indonesia's difficulty is temporary," Tang said.

"We hope all countries, especially international financial
institutions -- including the IMF -- can provide support to these
countries."

The International Monetary Fund (IMF) last Friday announced a
$23 billion package for Indonesia to help stabilize its currency,
but the bailout package was estimated to be worth up to $40
billion after other donors contributed.

World Bank President James Wolfensohn said on Monday he
believed the worst of Southeast Asia's crisis was over and that
no other countries in the region needed large aid packages for
now.

Shock waves from an economic crisis that erupted in Thailand
have rolled over Southeast Asia over the past four months,
driving down currency values and share prices.