November 14, 2010
APEC Leaders Seek Accord on Trade, Growth
Leaders from the Asia-Pacific region are trying to develop ways to free up trade and create balanced growth in the region as they conclude a regional summit.
The Asia-Pacific Economic Cooperation countries are expected Sunday to pledge to start work on a vast free trade area linking at least nine countries, including Japan, Australia and the United States.
U.S. President Barack Obama Saturday told the 21-member summit in Yokohama, Japan that the prosperity of the United States is inextricably tied to its Pacific trading partners.
Japanese Prime Minister Naoto Kan said Saturday his country is ready to work on a free tract pact that includes plans to lift tariffs.
The APEC meeting followed the G20 summit, which ended Friday in Seoul.
During that summit, the United States failed to secure a free trade agreement with South Korea, and could not get China to allow its currency to appreciate.
G20 members have faced sharp divisions about trade imbalances that have caused large deficits in importing nations such as the United States and huge surpluses in exporters such as China and Germany.
China is one of several G20 members that complain U.S. Federal Reserve measures to stimulate the American economy will effectively devalue the dollar. They say investors will respond by shifting capital to other nations in search of higher returns.
http://blogs.voanews.com/breaking-news/2010/11/13/apec-leaders-seek-accord-on-trade-growth/
APEC Leaders Seek Accord on Trade, Growth
Leaders from the Asia-Pacific region are trying to develop ways to free up trade and create balanced growth in the region as they conclude a regional summit.
The Asia-Pacific Economic Cooperation countries are expected Sunday to pledge to start work on a vast free trade area linking at least nine countries, including Japan, Australia and the United States.
U.S. President Barack Obama Saturday told the 21-member summit in Yokohama, Japan that the prosperity of the United States is inextricably tied to its Pacific trading partners.
Japanese Prime Minister Naoto Kan said Saturday his country is ready to work on a free tract pact that includes plans to lift tariffs.
The APEC meeting followed the G20 summit, which ended Friday in Seoul.
During that summit, the United States failed to secure a free trade agreement with South Korea, and could not get China to allow its currency to appreciate.
G20 members have faced sharp divisions about trade imbalances that have caused large deficits in importing nations such as the United States and huge surpluses in exporters such as China and Germany.
China is one of several G20 members that complain U.S. Federal Reserve measures to stimulate the American economy will effectively devalue the dollar. They say investors will respond by shifting capital to other nations in search of higher returns.
http://blogs.voanews.com/breaking-news/2010/11/13/apec-leaders-seek-accord-on-trade-growth/
