APEC vows to fend off euro woes, clean up finances
Leaders from Pacific-rim nations pose for a group photo on the final day of the APEC summit in Vladivostok, Russia, Sunday, Sept. 9, 2012. From left to right are South Korean President Lee Myung-bak, Vietnamese President Truong Tan Sang, Indonesian President Susilo Bambang Yudhoyono, Thailand’s Prime Minister Yingluck Shinawatra, Chinese President Hu Jintao, Singapore Prime Minister Lee Hsien Loong, Canadian Prime Minister Stephen Harper, Peruvian President Ollanta Humala, Australian Trade Minister Craig Emerson , New Zealand Prime Minister John Key, Russian President Vladimir Putin, Mexico President Felipe Calderon, Sultan of Brunei Hassanal Bolkiah, Papua New Guinea Prime Minister Peter O’Neill, Chilean President Sebastian Pinera, Philippines President Benigno Aquino III, Japanese Prime Minister Yoshihiko Noda, U.S. Secretary of State Hillary Rodham Clinton, Malaysian Prime Minister Najib Razak, Taiwanese Special Envoy Lien Chan and Hong Kong Financial Secretary John Tsang. AP/Vincent Yu
VLADIVOSTOK, Russia – Pacific Rim leaders have pledged to fend off the damage from the European crisis, by supporting open trade, reforming their economies and strengthening public finances.
The 21-member Asia-Pacific Economic Cooperation forum wrapped up an annual summit in this far eastern Russian seaport Sunday vowing to work together to support growth and restore confidence in shaken financial markets.
Russian President Vladimir Putin described the talks as constructive.
The leaders issued a statement welcoming European leaders’ promises to help stabilize the crisis-stricken euro region and warning against “excess volatility” and distortions in financial markets.
The APEC leaders said they would work to reduce deficits and imbalances in their countries’ own finances.
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