China ready to aid global recovery
Source: Agencies |
September 9, 2012, Sunday
|
Print Edition
Print Edition
CHINA and Russia sounded the alarm about the state of the global economy and urged Asian-Pacific countries at a summit yesterday to protect themselves by forging deeper regional economic ties.
President Hu Jintao said Beijing would do all it could to strengthen the 21-member Asia-Pacific Economic Cooperation by rebalancing its economy, Asia's biggest, to improve the chances of a global economic recovery.
Russian President Vladimir Putin said trade barriers must be smashed down as he opened the APEC summit, which he is hosting on an island linked to the Pacific port of Vladivostok by a new bridge that symbolizes Moscow's pivotal turn to Asia away from debt-stricken Europe.
"It's important to build bridges, not walls. We must continue striving for greater integration," Putin told APEC leaders, seated at a round table in a room with a view of the US$1 billion cable-stayed bridge, the largest of its kind.
"The global economic recovery is faltering. We can overcome the negative trends only by increasing the volume of trade in goods and services and enhancing the flow of capital."
Hu told business leaders before the summit the world economy was being hampered by "destabilizing factors and uncertainties" and the crisis that hit in 2008-09 was far from over. China would play its role, he said, in strengthening the recovery.
"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.
Hu spelled out plans for China, whose economic growth has slowed as Europe's debt crisis worsened, to pump US$157 billion into infrastructure investment in agriculture, energy, railways and roads.
APEC, which includes the US, 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.
President Hu Jintao said Beijing would do all it could to strengthen the 21-member Asia-Pacific Economic Cooperation by rebalancing its economy, Asia's biggest, to improve the chances of a global economic recovery.
Russian President Vladimir Putin said trade barriers must be smashed down as he opened the APEC summit, which he is hosting on an island linked to the Pacific port of Vladivostok by a new bridge that symbolizes Moscow's pivotal turn to Asia away from debt-stricken Europe.
"It's important to build bridges, not walls. We must continue striving for greater integration," Putin told APEC leaders, seated at a round table in a room with a view of the US$1 billion cable-stayed bridge, the largest of its kind.
"The global economic recovery is faltering. We can overcome the negative trends only by increasing the volume of trade in goods and services and enhancing the flow of capital."
Hu told business leaders before the summit the world economy was being hampered by "destabilizing factors and uncertainties" and the crisis that hit in 2008-09 was far from over. China would play its role, he said, in strengthening the recovery.
"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.
Hu spelled out plans for China, whose economic growth has slowed as Europe's debt crisis worsened, to pump US$157 billion into infrastructure investment in agriculture, energy, railways and roads.
APEC, which includes the US, 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.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
