Hourly News updated 14:00 2011/11/12

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Chinese President Hu Jintao reaffirms support to Hong Kong's stability and prosperity during a meeting with Donald Tsang, chief executive of the Hong Kong Special Administrative¹ Region.

Hu and Tsang are in Honolulu, Hawaii, for the Economic Leaders Meeting of the Asia-Pacific Economic Cooperation.

In his meeting with Lien² Chan, honorary chairman of the Kuomintang of China's Taiwan province, Hu Jintao reaffirms the "1992 Consensus³" as the foundation for peaceful development of relations across the Taiwan Straits.

"I agree that the 1992 consensus is an essential criterion of cross-Straits development, dialogue and cooperation, and also the important basis of the peaceful development of the cross-Straits relationship."

In 1992, non-governmental negotiators from across the straits agreed that both sides should verbally express their adherence⁴ to the one-China principle.

During his talks with US business leaders in Hawaii,Hu Jintao promises that China will expand imports in the next five years, and urges the US side to loosen export restrictions⁵ on high-tech⁶ products to China

"The recovery of the world economy is becoming increasingly uncertain and unstable⁷. Under such circumstances, dialogue between China and the U.S. is proving to be more important than ever."

On the front of bilateral⁸ ties, Hu Jintao has met with his Peruvian counterpart Ollanta Humala Tasso in Honolulu, Hawaii to discuss issues of common concern. He also exchanged congratulatory messages on 40th anniversary of bilateral ties with his Rwandan counterpart Paul Kagame.

 

 

World Leaders address hot topics on APEC

One of the major goals for APEC is to promote free trade among its member economies. While addressing the APEC CEO summit in Honolulu on Friday, Australian Prime Minister Julia Gillard said she still believes in free trade.

"I am still a great optimist⁹ that free trade is good for jobs.　We do need to see it matched with market based exchange rates, and that's a debate that we continue to pursue in international meetings, including this one of APEC."

Speaking at a symposium¹⁰ on the sidelines of the APEC summit, Singaporean Prime Minister Lee Hsien Loong offers his view on the future of the Asia-Pacific region.

"Well the long term change in Asia is the emergence¹¹ of the new economies: China, India, southeast Asian countries and the shift in balance and the center of gravity from the West to the East. And how we're going to manage that change in a constructive¹², mutually beneficial way. I think that's the most important long term trend for Asia and the world."

 

 

APEC slogan: Get Stuff done

APEC Ministers' meeting is under way, where trade and foreign ministers of the 21 member states are gathering¹³ in a hope to reach agreement on key issues. The United States, as the host nation, says it supports APEC member economies to strengthen APEC and transform it from a talk shop to a forum¹⁴ that provides practical leadership and innovative¹⁵ policies.

Our US correspondent Wang Shanshan has the story.

Ann: Trade and foreign ministers of the 21 APEC member states sit down for the APEC Ministers' Meeting Friday, for what is expected to be an active discussion to produce significant results for the upcoming Leaders' Meeting.

US Secretary of State Hillary Clinton says the senior officials have a formidable agenda to discuss.

"Global trends and world events have given us a full and formidable agenda, and the stakes are high for all of us. To accomplish these goals, we have to create a rules-based system that is open, free, transparent¹⁶ and fair. "

At a separate venue¹⁷, business leaders are holding the APEC CEO summit, advising the APEC summit that a "volatile¹⁸ and uncertain economic environment" was discouraging private-sector investment and could spawn¹⁹ protectionist sentiment.

 

 

Eurozone policymakers need to provide crisis solutions: IMF official

Deputy managing director of IMF, Zhu Min, has urged eurozone policymakers to provide a clear picture of how to tackle the eurozone debt turmoil²⁰, although global collaboration²¹ is needed.

Zhu said the eurozone debt turmoil is more or less a global crisis that needs global efforts to address, but eurozone leaders should endeavor to chart the course of how to solve the problem first.

He was speaking at the ongoing²² APEC CEO Summit in Honolulu, Hawaii.

He said there has been a consensus that two firewalls are needed to protect the real economy and to stop the contagion²³ triggered by the eurozone debt and banking²⁴ stress.

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