APEC Leaders In Singapore
The 17th APEC Economic Leaders’ Meeting has concluded on a sweet note. President Obama managed to cut short his Japan trip and made it on time for the dinner on Saturday.
There was a joint declaration on ‘sustainable growth and connecting the region’ as well as a ‘new growth paradigm for a connected Asia-Pacific in the 21st century’.
The APEC leaders agreed to continue stimulus measures and to implement a growth policy which is comprehensive, balanced and sustainable to ensure long-term economic recovery as outlined by the G20 summit in September this year.
They reiterated their commitment to the Bogor goals of trade liberalization and investment, and assigned their respective ministers to assess the results of developing economies implementing these goals in 2010.
All these measures are good for Singapore which has no natural resources and depend greatly on free trade for survival.
The only grouse is that there is no climate deal as everybody dragged their feet on reduction of emissions.
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