RE-POSITIONING ASIA-PACIFIC FOR NEW GROWTH PARADIGM

    The APEC economies have already shown a high concern over those issues and are expected to discuss the topic further in the APEC economic leaders' meeting to be held this week.

    As pointed out by Lim Hng Kiang, Singapore minister of trade and industry, in a speech last month, the issue of how to re-position the Asia-Pacific economies for new growth paradigms has been a preoccupation in the APEC meetings that Singapore has been chairing this year.

    "It will occupy our leaders' minds when they gather in Singapore for the summit. It cannot be 'growth-as-usual' going forward," said Lim.

    A draft declaration, prepared by officials for ministerial review ahead of the summit this week, said the APEC economies will work out a long-term growth strategy that supports inclusive and sustainable growth, which recognises "the structural reform" as the cornerstone of inclusive growth and focuses on boosting opportunities for all segments of society and strengthening social resilience through well designed social safety nets.

    "We will strengthen APEC's focus on its structural reform agenda as a matter of urgency," said the draft declaration seen by Xinhua, stressing that the progress on structural reform will be critical for ensuring a sustained recovery in APEC economies from the global economic crisis. 

Special report: President Hu Visits Malaysia, Singapore, Attends APEC summit