India News and Travel Times Provides India-centric and other News and Features

President Hu Jintao has in a statement promised to sustain China's economic growth to support global recovery. Jintao’s statement came ahead of the start of the Asia-Pacific Economic Co-operation (APEC) summit in the Russian port city of Vladivostok. He said China would pursue steady policies and seek to boost domestic demand. According to the BBC, Jintao said all countries in the region shared a responsibility to maintain peace and stability. “The world economy today is recovering slowly, and there are still some destabilising factors and uncertainties," Jintao said, adding: “The underlying impact of the international financial crisis is far from over”. "We will work to maintain the balance between keeping steady and robust growth, adjusting the economic structure and managing inflation expectations. We will boost domestic demand and maintain steady and robust growth as well as basic price stability," he added. According to the report, U.S. Secretary of State Hillary Clinton has urged countries in the region to lift barriers to free trade in the Pacific. "Fostering a balanced and stable economy is a challenge too sweeping and complex for countries to approach in isolation," Clinton said. "If we do this right, globalisation can become a race to the top, with rising standards of living and more broadly shared prosperity," she added. Russian President Vladimir Putin, who is hosting the summit, has expressed concern about the world economy, and particularly Europe's debt crisis. "The recovery of the global economy is faltering. We can only overcome negative trends by enhancing the volume of trade... enhancing the flow of capital. It is important to follow the fundamental principles of open markets and free trade," he said. "The priority goal is to fight protectionism in all its forms. It is important to build bridges not walls," he added.

Chinese President Jintao pledges ‘robust’ economic growth ahead of APEC summit