Asia leading world out of crisis, say biz leaders
11/13/2009 | 03:17 PM
SINGAPORE — Business leaders say China, India and other Asian countries are leading the world out of the global economic crisis as trade and finance ministers pledged to make Asia-Pacific a cheaper, faster and easier region to do business in by 2015.
The biggest economic crisis since the 1930s has been the focus of this year's Asia-Pacific Economic Cooperation forum, an annual gathering of 21 member economies from Asia and the Pacific Rim.
Singaporean Prime Minister Lee Hsien Loong said Friday as spending drops and savings increase among consumers in the United States, the world's biggest economy, "somebody else has to spend more somewhere else in the world. This has to be in Asia."
He said the demographics are favorable for growth in China and India. - AP
The biggest economic crisis since the 1930s has been the focus of this year's Asia-Pacific Economic Cooperation forum, an annual gathering of 21 member economies from Asia and the Pacific Rim.
Singaporean Prime Minister Lee Hsien Loong said Friday as spending drops and savings increase among consumers in the United States, the world's biggest economy, "somebody else has to spend more somewhere else in the world. This has to be in Asia."
He said the demographics are favorable for growth in China and India. - AP
