News / Economy

Slowing Chinese Growth Tops APEC Agenda

Slowing Chinese Growth Leads APEC Investmentsi
|| 0:00:00
X
Scott Stearns
September 08, 2012 10:21 AM
As Asia-Pacific leaders gather in Russia this week, for their annual heads-of-state forum, slowing growth and investment in China dominate APEC's economic agenda. VOA State Department correspondent Scott Stearns has the story.

Slowing Chinese Growth Leads APEC Investments

Chinese President Hu Jintao was one of the first leaders to arrive in Vladivostok for the Asia-Pacific Economic Cooperation (APEC) summit.
 
As Asia-Pacific leaders gather in the Russian city for their annual heads-of-state forum on Saturday, slowing growth and investment in China, Asia's largest economy, is set to dominate the agenda.
 
Despite slower orders for Chinese manufacturers, China's growth still tops seven percent.
 
"In the very near term, I think the key word is stabilization," said Hong Kong economist Shen Minggao, head of China research for Citigroup, who expects to see measures to stabilize the economy and avoid social unrest undertaken.
 
"But promoting consumption or services are deemed longer-term measures," he says. "So in the very near term, they have to go back to the traditional growth engines, for example exports."
 
At a meeting of APEC ministers held on Thursday, Australian Finance Minister Penny Wong said China has a record of making the right moves.
 
"While there has been some moderation in Chinese growth, our observation would be — and I think that it is a sound one — that Chinese authorities have room to move, to support growth consistent with the plans they have outlined," she said.
 
But according to Dan Ikenson, director of trade policy studies at the Cato Institute, a Washington-based libertarian think tank, Chinese research and development lags behind most other major economies.
 

APEC Leaders to Discuss Rival South China Sea Claims

x
APEC Leaders to Discuss Rival South China Sea Claimsi
|| 0:00:00
X
Scott Stearns
September 04, 2012 8:01 PM
Asia-Pacific leaders meeting in Russia this week are expected to discuss how best to reconcile border disputes in the South China Sea. VOA's Scott Stearns reports that Vietnam, Taiwan, Malaysia, Brunei, the Philippines and China all have competing territorial claims.

APEC Leaders to Discuss Rival South China Sea Claims

"China is very good at mid-level manufacturing and assembly. They want to work their way up the value chain. The problem is they do not have the right policies in place to do that," he said. "You need a culture of dissent. Not only do we have a culture that tolerates dissent here [in the U.S.], but it encourages it, and that is what you need for innovation."
 
Without expanded Chinese civil liberties, he says, the country is a poor long-term driver for growth among its fellow APEC member nations. And the APEC summit itself, he adds, is not usually a place where many deals get done.
 
"It is almost like a cocktail party that your boss insists that you go to because maybe some future business is going to come out of some handshake or something," he said. "But there is not much more too it than that. I think there is a reluctance of countries, of government, to turn their back on it and say, 'Eh, this is not worth our time', because who knows? Maybe next year something concrete will come out of it."
 
At this year's summit, APEC leaders are also expected to discuss trade and investment liberalization, greater regional economic integration, and food security.

You May Like

Uganda Court Annuls Anti-Gay Law

Court says law was passed in parliament without enough members present for a full quorum More

Multimedia Thailand Makes Efforts to Improve Conditions for Migrant Laborers

In Thailand, its not uncommon for parents to bring their children to work; one company, in-collaboration with other organizations, address safety concerns More

In Indonesia, Jihad Video Raises Concern

Video calls on Indonesians to join Islamic State of Iraq and the Levant, ISIL More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
In Thailand, Some Efforts to Improve Conditions For Migrant Laborersi
X
Steve Herman
August 01, 2014 6:22 PM
Thailand has been facing increasing international scrutiny as a hub of human trafficking and slave labor. Some of the kingdom’s companies are striving to improve working conditions, especially for the millions of migrant laborers from surrounding countries. VOA Correspondent Steve Herman in Bangkok takes a look at one initiative for children at construction sites
Video

Video In Thailand, Some Efforts to Improve Conditions For Migrant Laborers

Thailand has been facing increasing international scrutiny as a hub of human trafficking and slave labor. Some of the kingdom’s companies are striving to improve working conditions, especially for the millions of migrant laborers from surrounding countries. VOA Correspondent Steve Herman in Bangkok takes a look at one initiative for children at construction sites
Video

Video Public Raises its Voice on Power Plant Pollution

In the United States, proposed rules to cut pollution from the nation’s 600 coal-fired power plants are generating a heated debate. The U.S. Environmental Protection Agency, charged with writing and implementing the plan, has already received 300,000 written comments. As VOA’s Rosanne Skirble reports, another 1,600 people are lining up this week at EPA headquarters and at satellite offices around the country to give their testimony in person.
Video

Video Information War Rages Alongside Real One in Ukraine

The downing of the Malaysian airliner two weeks ago, and allegations that Russians are shelling Ukrainian troops across the border, have moved the information war swirling around the Ukrainian conflict to a new level. VOA's Al Pessin reports from Kyiv.
Video

Video When Fighting Eases, Gazans Line Up at Bakeries

When there is a lull in the conflict in Gaza, residents who have been hunkered down in their apartments rush out to stock up on food and other necessities. Probably the most important destination is the local bakery. VOA’s Scott Bobb reports from Gaza City.
Video

Video China Investigates Powerful Former Security Chief

The public in China is welcoming the Communist Party's decision to investigate one of the country's once most powerful politicians, former domestic security chief Zhou Yongkang. Analysts say the move by President Xi Jinping is not only an effort to win more support for the party, but an essential step to furthering much needed economic reforms and removing those who would stand in the way of change. VOA's Bill Ide has more from Beijing.
Video

Video US-Funded Program Offers Honduran Children Alternative to Illegal Immigration

President Obama and Central American leaders recently agreed to come up with a plan to address poverty and crime in the region that is fueling the surge of young migrants trying to illegally enter the United States. VOA’s Brian Padden looks at one such program in Honduras - funded in part by the United States - which gives street kids not only food and safety but a chance for a better life without, crossing the border.
Video

Video 'Fab Lab' Igniting Revolution in Kenya

The University of Nairobi’s Science and Technology Park is banking on 3-D prototyping to spark a manufacturing revolution in the country. Lenny Ruvaga has more for from Nairobi's so-called “FabLab” for VOA.
Video

Video Immigrant Influx on Texas Border Heats Up Political Debate

Immigrants from Central America continue to cross the U.S.-Mexico border in south Texas, seeking asylum in the United States, as officials grapple with ways to deal with the problem and provide shelter for thousands of minors among the illegal border crossers. As VOA's Greg Flakus reports from Houston, the issue is complicated by internal U.S. politics and U.S. relations with the troubled nations that immigrants are fleeing.

AppleAndroid

World Currencies

EUR
USD
0.7305
JPY
USD
101.53
GBP
USD
0.5830
CAD
USD
1.0656
INR
USD
60.075

Rates may not be current.