Chinese President Hu Jintao and leaders of other Asia-Pacific Economic Cooperation (APEC) members assembled in Honolulu, Hawaii on Sunday to discover the ways to speed up regional economic integration, free trade and investment, and economic and technological cooperation.
The annual meeting, hosted by U.S. President Barack Obama in his home state, is being convened at the JW Marriott Ihilani, Honolulu to boost regional economic integration, trade, green growth, job creation, energy security and regulatory cooperation.
President Hu delivered a speech titled "Shift Growth Model to Sustain Economic Development" at the meeting. Hu said economic globalization is in advance force, countries are becoming increasingly interdependent economically, and new changes are underway in global economic governance.
At the same time, the global economic environment remains complex and volatile. Some major economies are experiencing economic slowdown, and some countries are facing acute sovereign debt problems. Volatility in the international financial markets persists. Rising inflationary pressure confronts emerging markets. Protectionism in various forms is on a notable increase. As a result, the global economic recovery encounters greater instability and uncertainty, the president noted.
Hu said,"Our goal is to achieve sustained, steady and fairly fast economic growth and social harmony and stability in our region".