Asia-Pacific Economic Cooperation (APEC) group is meeting in Japan after widespread criticism of the G20’s watered-down commitments in Seoul.
Once again the US and China, still fussing over who is doing more to damage international trade, are key to talks on policies to ensure balanced growth.
The APEC summit of Asia Pacific nations has ended with promises of a new global economic strategy and little of any substance on climate change. The 21 countries at the talks in Singapore agreed to reject all forms of protectionism, stick with economic stimulus plans and conclude the Doha round of global free trade talks next year.
Leaders and finance ministers of 21 Apec economies, including the United States, Japan and China, will keep stimulus policies until a lasting economic recovery is seen, draft statements from the grouping seen by Thomson Reuters today said.
“Economic recovery is not yet on a solid footing,” said a draft statement by the group’s leaders, dated Oct. 31 and expected to be delivered at the Asia Pacific Economic Cooperation (Apec) summit in Singapore later this month.
