Nov 18

The APEC warns against protectionism

Tag: business, economy, money, publications, top news — admin @ 4:36 pm

China, Japan, Singapore, Taiwan, Thailand, all those Asian countries that depend on their exports, feared a return of protectionism, driven by rising unemployment in the world, is not undermined by the weak recovery that seems s 'start on both sides of the Pacific Ocean.

Meeting yesterday, and until Sunday evening in Singapore, the 21 forum member countries of APEC (Asia Pacific Economic Cooperation), which also ranks in the United States and Russia call to fight against this temptation with force.In contrast to increasing free trade that will stimulate economic recovery and create new jobs, they say.

The APEC forum, which is celebrating its twenty years, knows whereof he speaks: it accounts for respectively 40% of world population, 51% of GDP (gross domestic product) and 50% of international trade.

Recovery Plans

The exercise is more difficult than in countries that are recovering as fast as China (8% growth expected this year), the risk of overheating point and are "likely to trigger new asset bubbles and estate, "says Robert Zoellick, President of the World Bank.Indeed, Hong Kong and Beijing, apartment prices begin to flare, necessitating a very fine management of support plans launched by the Asian countries.

In total, they represent more than 1 000 billion (665.7 billion), including 585 billion for China alone. But no question of suspending them. "We will maintain our policy of economic recovery until a sustained recovery is assured," said the APEC forum, which emphasizes that the expected recovery "is not yet based on solid foundations."

For its part, South Korea, just to finalize its agreement to free trade with the United States.Washington accuses him not to open its automotive market and the day before the U.S. International Trade Commission had to deny Samsung Electronics to sell some of its products overseas because they pirated Japanese licenses.

Saturday and Sunday, the Heads of State of the APEC forum, which will meet in Singapore and will also consider the climate, will certainly a lot to do.