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Global challenges require global responses, says Hu

SINGAPORE: Chinese President Hu Jintao and other leaders of the Asia-Pacific Economic Cooperation (APEC) met for the second and final day on Sunday for their annual meeting, focusing on “sustaining growth”.

During their two-day meeting, the APEC leaders focused on countering international financial crisis, climate change, opposing trade protectionism, supporting multilateral trading regime, furthering regional economic integration and the APEC’s future.

The Chinese President, speaking at the second-day session on Sunday, expounded China’s view on promoting sustainable development.

In his remarks, Mr. Hu said China needs an international development environment featuring peace, stability, harmony and cooperation.

“China is ready to contribute its share to the building of such an environment. China will work with the rest of the international community to meet the challenges together and seek inclusive, sustainable and balanced economic growth,” Mr. Hu told leaders of other APEC member economies.

At present, the profound impact of the international financial crisis still persists and the foundation is not yet solid for the world economic upturn, said Mr. Hu.

Trade and investment protectionism of various forms has noticeably risen.

The intrinsic problems in the world economic system are yet to be solved and the effort to fully restore world economic growth is beset with uncertainties and destabilising factors, he added.

In addition, the Doha Round negotiations have been fraught with difficulties and twists and turns, and global issues such as climate change, food security, energy and resource security, public health security and major natural disasters have become more pronounced. “These are all daunting challenges to the full recovery and long-term growth of the world economy, including in the Asia-Pacific region.”

At this critical juncture, “we should all the more get united, follow the principle of openness, cooperation and mutual benefit, strengthen coordination and work together to secure the momentum of world economic recovery and promote balanced and orderly economic growth,” said the Chinese President.

Mr. Hu made a four-point proposal on sustainable development: make efforts to restore world economic growth; take a long-term perspective and promote sustainable growth;

follow a holistic approach and advocate inclusive growth and, finally, engage in coordination and pursue balanced growth.

“Global challenges require global responses. Recently, leaders from many countries have gathered together more frequently to discuss ways to address global issues,” he said. “This shows that the international community has come to recognise that along with deepening economic globalisation, working together for win-win outcomes is the only option we have.” Mr. Hu added that economies in the Asia-Pacific region, which are diverse and highly complementary to one other, have gained valuable experience in working together to meet the challenges.

He said developed countries should continue to take the lead in emissions reduction after 2012 in keeping with the principles set out in the UNFCCC. “They should at the same time provide financial support and technology transfer to developing countries to help them enhance capacity in tackling climate change,” he noted. Developing countries should meet the climate challenge by implementing sustainable development strategies, he added. — Xinhua

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