Calls for action stem from the recent funding problems of Asian corporations and the fact that some of the region's politicians have publicly committed to working more closely with their counterparts.

In recent days, leaders such as Gloria Macapagal Arroyo of the Philippines and Lee Myung-bak of South Korea have made strong but varied calls for a common response. Last week, Mr Lee even called for “a new international organisation to regulate events and come up with responses,” without specifying what shape it might take. On 22 Oct Olarn Chaipravat, Thailand's deputy prime minister, told reporters that his government would propose pooling $350bn-$700bn (€272bn- €543bn, ￡216bn-￡432bn) of funds to address crisis needs. Japanese officials meanwhile said they were working with China and South Korea to set up a forum to coordinate financial market supervision.

Still most pundits expect little to be agreed in Beijing. Part of the reason is that it is officially a Europe-Asia summit, but the more fundamental point is that Asia's financial woes do not appear acute enough to justify a major rescue package.