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The article reports on the plan of China, Japan and South Korea to set up a foreign exchange reserve fund along with the Association of Southeast Asian Nations (ASEAN). According to the article, the countries and the ASEAN will set up the fund in order to support each other to avoid possible financial risks from the U.S. subprime mortgage loan crisis. It is stated that the subprime crisis was similar to the Asian financial crisis in 1997.

The article reports on the signs of a decline in the growing foreign reserves of China, boosted mainly by its trade surplus and foreign direct investment. According to Cai Qiusheng, a senior official at the State Administration of Foreign Exchange (SAFE), the agency's statistics showed that the foreign reserves had declined for the first time since December 2003. The decline meant that some foreign investors withdrew their money out of mainland markets to invest in safe havens elsewhere in the midst of the global financial crisis.