Chinese president calls for Economic growth

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".

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Obama seeks to snag U.S. economy to Asian growth

With Europe slowed down in crisis, President Barack Obama is launching a charm offensive this week to hitch the U.S. economy to growth opportunities in Asia that he hopes can help power the recovery he needs for re-election.

Obama, who was born in Hawaii and spent part of his childhood in Indonesia, will host Asian leaders including Chinese President Hu Jintao and Japanese Prime Minister Yoshihiko Noda in Honolulu this weekend to seek to developed trade ties across the Pacific.

He will then travel to Australia to announce plans to boost the U.S. military presence in the region and will be the first American president to attend the East Asia Summit in Bali. There, he will heap attention on the Philippines, Thailand, Malaysia and Indonesia as well as India.

The campaign to cozy up to Asian powers large and small comes at a critical moment for the U.S. economy, whose recovery is at risk because of a spiraling debt crisis in Europe that dominated a G-20 leaders' summit in France last week.

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