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November 22, 2008

Bush Advocates Free Market System at APEC Summit
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US president meeting with leaders of Pacific Rim countries to discuss
global economy 
US President George W. Bush (file photo)U.S. President George Bush has
urged world leaders to embrace free
markets and trade to help pull the world out of its current economic
crisis. Mr. Bush addressed business leaders from Pacific Rim
countries Saturday shortly before the formal opening of a summit of the
Asia-Pacific Economic Cooperation (APEC) in Lima, Peru. The U.S.
president said the three great forces for economic growth are "free
markets, free trade and free people." He said the greatest threat to
prosperity is too much government involvement in the markets, while
acknowledging that there are times when intervention is essential. He
also applauded the benefits of free trade agreements, and said world
leaders must work to bring down global trade barriers. Mr.
Bush is seeking to build support for measures endorsed last week during
the Group of 20 (or G-20) meeting in Washington, that included leaders
of the world's biggest economies and key developing nations. The summit
is Mr. Bush's last scheduled trip abroad before he leaves office in
January. Mr.
Bush met today with Canadian Prime Minister Stephen Harper, and is
scheduled to meet with the Prime Minister of Japan, Taro Aso, South
Korean President Lee Myung-bak, and Russian President Dmitri Medvedev.
President
Bush met Friday with Chinese President Hu Jintao on issues involving
Iran, North Korea, Burma, Zimbabwe, and Sudan. The White House says
Mr. Bush also urged China to continue talks with Tibet's exiled
spiritual leader, the Dalai Lama.

Some information for this report was provided by AFP and AP.


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