APEC leaders to focus on world economy
The Hawaii meeting, the 19th for APEC leaders, comes at a time of world economic uncertainty, with the European debt crisis still unresolved, inflationary pressure increasing and a slowdown of growth in Asia, and high levels of unemployment in the US and many developed countries.
Jeffrey Schott, a trade policy expert at Washington thinktank Peterson Institute for International Economics, said the forum will very likely take on a "broad global perspective".
"The biggest concern of the APEC members will be restoring global economic growth, getting more stability, and getting a stronger foundation for economic growth going forward. That's the principal concern leaders will have when they come to Honolulu," said Schott during a recent interview with Xinhua.
Schott believed APEC leaders would "focus first on global economic situation, because they represent half of the world economy. So obviously they'll have some concerns about the spillover effects of the crisis in Europe". But the meeting itself is not one about the European crisis, as that is mainly dealt with through each country's participation in the International Monetary Fund (IMF).
What leaders can do, is to make sure they work together and build on the success in previous years of strengthening cooperation between the 21 economies, noted Schott.
"The integration efforts are means of boosting productivity throughout the region, and thereby enhancing growth. So that's what you want the APEC economies to do. That's what they are trying to do, is work together more cooperatively, more efficiently so they boost economic growth throughout the region. That would lead to more trade and investment, and higher wages.
With a global perspective in mind, leaders of APEC economies will try to provide some certainty and stability; Kazinform cites China Daily.
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