China at APEC conference says nations must forge deeper regional economic ties
Chinese President Hu Jintao says his nation will continue robust growth
Chinese President Hu Jintao, speaking at the Asia-Pacific Economic Cooperation, or APEC conference said his country will play a role in helping deepen cooperation between the organization's 21 members by rebalancing its economy to improve the chances of a global economic recovery. Hu warned about the state of the global economy, urging countries at summit to protect their interests by forging deeper regional economic ties.
Many were aware of Russian president Vladimir Putin's limp at the APEC summit. His representatives maintain that he was in good health.
"We will work to maintain the balance between keeping steady and robust growth, adjusting the economic structure and managing inflation expectations. We will boost domestic demand and maintain steady and robust growth as well as basic price stability," he said.
Russian President Vladimir Putin had also expressed concern about the world economy last week. In particular, he is concerned about Europe's debt crisis, as he prepared to host the annual APEC summit in the Pacific port city of Vladivostok.
China's economy remains dominant in Asia and it is essential to Russia's decision to look eastwards as it seeks to develop its own economy.
Hu also announced a $157 billion government spending drive to boost infrastructure in agriculture, energy, railways and roads as well as pledging his country's support for greater trade liberalization.
"We should improve and explore new mechanisms for infrastructure investment and financing, and encourage participation in infrastructure development by various actors," he said.
Hu steps down as China's top leader in the autumn after a Communist Party congress. Putin has just begun a new six-year term as the president of Russia. Putin says that Russia would be a stable energy supplier and a gateway to Europe for Asian countries. He also pledged to develop his country's transport network.
Analysts say that Russia sees the summit as a chance to make a shift away from Europe, increasing political and economic links with countries in Asia that are showing relatively strong economic growth while Europe continues to struggles with its debt crisis.
APEC, which also includes the United States, Japan, South Korea, Indonesia and Canada, groups countries around the Pacific Rim which account for 40 percent of the world's population, 54 percent of its economic output and 44 percent of trade.
Boosting trade and growth is vital for APEC as a whole as it tries to remove trade barriers that hinder investment.
© 2012, Catholic Online. Distributed by NEWS CONSORTIUM.
Pope Francis Prayer Intentions for December 2013
General Intention: Victimized Children. That children who are victims of abandonment or violence may find the love and protection they need.
Missionary Intention: Prepare the Savior's Coming. That Christians, enlightened by the Word incarnate, may prepare humanity for the Savior's coming.
Rate This Article
Leave a Comment
More Asia Pacific News
- Oh my! It's raining dead mice on Guam!
- Breastfeeding for infant survivors of Typhoon Haiyan urged
- Cradle baby scheme in India cuts female infanticide
- In spite of U.S. military occupation, opium production at all-time high in Afghanistan
- China launches first moon mission with unmanned lunar probe
- IS THIS PROGRESS? Adulterers may now be stoned in Afghanistan
- Earliest ever 'Buddhist shrine' uncovered by archaeologists
- For the world to see: Afghan mother shows acid attack burns
- 'Cookii monster' Lethal pink jellyfish rediscovered 100 YEARS after off Australian coast
- Fr. Paul Schenck: Finding Living Faith on Catechetical Sunday
- The Movie Yellow: Incest as 'Normal' and Cassavates's Slides Into the World of Woes
- The Chicago School Teachers Strike Reveals the Need For School Choice
- The Sexual Barbarians and the Dissolution of Culture
- The Happy Priest Challenges Us to Ask: Who is Jesus to Me?
- Michael Coren on Canadian Public Schools: Teachers, leave those kids alone
- We Cannot Ignore Our Consciences: Cardinal Dolan On Religious Liberty
- In the Face of Danger, Successor of Peter Travels to Lebanon as a Messenger of Peace
- Reflections on the Dignity and Vocation of Women: Who or What?