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World summit occurs next week that will decide global economic threat

World summit occurs next week that will decide global economic threat

POSTED: Thursday, November 4, 2010 - 2:39am

UPDATED: Thursday, November 4, 2010 - 2:42am

TOKYO (AP) -- World leaders head to back-to-back economic summits in Asia next week, but regional political tensions - some spawned by China's growing assertiveness - could undermine attempts to project unity amid a faltering global economic recovery.

In Seoul, where leaders from the Group of 20 major global economies will gather next Thursday and Friday, tension remains high over the sinking of a South Korean warship earlier this year that has been blamed on North Korea.

Japan, which hosts the annual Asia-Pacific Economic Cooperation forum next weekend, is embroiled in a flare-up of territorial disputes with China and Russia that is stirring up rancor in all three countries and is already prompting economic fallout.

And while not on the official agendas, China's rise - its expanding maritime activities, growing political and economic clout and tension with Washington over its currency policy - will likely dominate in the flurry of one-on-one meetings between leaders on the sidelines.

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