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APEC summit ends with trade pledge but no climate target

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APEC summit ends with trade pledge but no climate target


The APEC summit of Asia Pacific nations has ended with promises of a new global economic strategy, differences on currency and little of any substance on climate change.

The 21 countries at the talks in Singapore agreed to reject all forms of protectionism, stick with economic stimulus plans and conclude the Doha round of global free trade talks next year. A target to cut greenhouse gas emissions by 50 percent had been in earlier drafts of the declaration but was removed, with the UN climate summit in Copenhagen just three weeks away. The summit’s host, Singapore prime minister Lee Hsien Loong read out the final statement, which mentioned only “an ambitious outcome” in Copenhagen. He said: “We cannot go back to growth as normal; we need a new growth strategy, one that meets the need of the 21st century global economy. To achieve sustainable growth we will work towards an ambitious outcome in Copenhagen and ensure that efforts to mitigate climate change are consistent with our international obligations.” US efforts to persuade China to let its Yuan currency appreciate came to nothing. President Obama will have more time to convince during a three day visit to China starting later.

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