Russia and China Pledge Work on Global Recovery at APEC Summit

At the APEC summit on Saturday Chinese and Russian leaders urged Asian-Pacific countries to protect themselves by forging deeper regional economic ties.  Spelling out plans to pump $157 billion into infrastructure investments in agriculture, energy, railways and roads, China's Hu said Beijing would do all it could to boost prospects of a global recovery by rebalancing its economy. Putin added that trade barriers must be smashed down. "The global economic recovery is faltering," he said.  Pledging that Russia would be a stable energy supplier and a gateway to Europe for Asian countries, he suggested that "[w]e can overcome the negative trends only by increasing the volume of trade in goods and services and enhancing the flow of capital." General discussions at the two-day APEC summit focused on food security and trade liberalization, and an agreement was reached before the summit to slash import duties on technologies that can promote economic growth without endangering the environment.
http://www.reuters.com/article/2012/09/08/us-apec-summit-idUSBRE88702W20120908