|
|
|
|
|
|
 The leaders promised to "take all necessary economic and financial measures to resolve this crisis." Their declaration at the end of a two-day summit in Peru echoed measures called for by the Group of 20 major economies at a meeting in Washington a week earlier, and widened support for drastic action to stimulate lending and spending.APEC members account for more than half of the world's economic output and also include Canada, Indonesia, Mexico, Chile, New Zealand, Singapore, South Korea and Hong Kong. Nine of them belong to the G20. They pledged to work together to ease the turmoil, agreed not to adopt new trade barriers for a year and called for better regulation of the financial industry. They also supported overhauls of the International Monetary Fund and World Bank at a time when more countries need emergency bailouts to avert economic disaster. "The global political and economic architecture is undergoing the deepest and most complicated changes since the Cold War," Chinese President Hu Jintao told Russia's Dmitry Medvedev at the summit. Medvedev said the non-binding declaration might still allow countries to help domestic producers. "On the one hand we took an obligation not to resort to protectionism, but of course we will draft measures to help our producers survive, help them with credits and some reasonable measures," he said. Japan reiterated an offer of $100 billion in funding for the IMF, but its peers did not follow the example. TRADE DEADLOCK APEC, which groups some of the most open economies in the world, warned that countries should not be tempted to use protectionist measures even if job losses mount. "We are convinced that we can overcome this crisis in a period of 18 months," a statement by the leaders said But Australia's Kevin Rudd said that timetable was the view of Peru's Alan Garcia, not of all APEC members, and Canada's Stephen Harper said it sounded too optimistic. Seven years of global trade negotiations have been hampered by disputes between the United States, China, India and other major players, and it is not clear what concessions they are prepared to make now.
U.S. President George W. Bush, on his last scheduled foreign trip before leaving office in January, held bilateral meetings with the leaders of China, Japan and Russia. He tried to use the meeting to revive global trade talks before handing off to President-elect Barack Obama, who has expressed more caution about free trade than Bush. A senior U.S. official told reporters in Geneva he saw a "very high probability" that trade ministers would return to Geneva next month to try to get a breakthrough in the so-called Doha round of trade talks. Major economies have slashed interest rates and spent hundreds of billions of dollars to help struggling banks after the meltdown in the U.S. housing market sparked a worldwide credit crisis. Now countries are looking at stimulus plans that include boosting government spending and cutting taxes. Obama said on Saturday he was crafting an aggressive two-year stimulus plan to revive the troubled economy. Canada could dip into a technical recession later this year or early next year, and will use fiscal stimulus if needed, Canadian Prime Minister Stephen Harper said. APEC meetings over the last eight years have often been marked by anti-Bush protests and demonstrations against free trade, but protests were muted in Peru, perhaps because Bush is so close to leaving office.
(Additional reporting by Paul Eckert, Marco Aquino, and Doug Palmer; Writing by Fiona Ortiz; Editing by Terry Wade and Chris Wilson)
|
|
|
|
|
 Times of the bloody battles between the Apaches’ tribes and their pale faced enemies passed by many years ago. But such great Apaches’ chiefs as Geronimo, whose death’s anniversary will be next year on the 18th of December, are still a great part of American history. That’s why it’s no wonder that the ancient monuments and places of that period of the USA history are very famous among the modern Americans. So if you want to know more about this astonishing period of American history concerning Apaches tribes you may visit the White Mountain Apache Reservation ...
|
|
|
|
 The modern American society disputes a lot about the consequences of such historical event as Gadsden Purchase (also known as Treaty). To have a chance of taking part in this passionate debate we must come back in 1853-1854. So, the short excursus into history of the USA begins. Perhaps some of you know that the so-called Gadsden Purchase, many call it just Treaty, but in fact this is the agreement that was signed between Mexico and the United States, this process lasted since 1853 and finally ended in 1854 ...
|
|
|
|
 NEW YORK (AP) -- A Democratic official says President-elect Barack Obama will name New Mexico Gov. Bill Richardson as commerce secretary. |
|
|
|
 Nov. 24 (Bloomberg) -- Standard Chartered Plc, the U.K. bank that gets
more than three-quarters of its profit in Asia, plans to raise 1.8
billion pounds ($2.7 billion) in a rights offer to bolster its finances
as the global economic recession deepens. The London-based bank is
offering existing shareholders 30 new shares for 91 already held at 390
pence apiece, or a 49 percent discount to the last closing price,
according to a statement to Hong Kong's stock exchange today. |
|
|
|
 LEOMINSTER - President-elect Barack Obama rode a spirit of civic
engagement among young people to victory, harnessing a hunger for
service and belonging that was sweeping across the nation's high
schools, college campuses, and online communities. But that hunger had
been building long before Obama launched his campaign, and it is poised
to continue growing long after he has left the White House |
|
|
|
 NEW YORK (CNNMoney.com) -- The U.S. federal government on Sunday
announced a massive rescue package for Citigroup - the latest move to
steady the banking giant, whose shares have plunged in the past week.
The plan has two key features: First, the U.S. Treasury and the Federal
Deposit Insurance Corporation (FDIC) will backstop some losses against
more than $300 billion in troubled assets. |
|
|
|
 Obama's plans, outlined by his transition team yesterday, could put
aside his campaign pledge to repeal a Bush tax cut for the wealthy.
With the downturn in the economy, those tax cuts may remain in place
until they are scheduled to die in 2011, said William M. Daley, an
economic adviser. |
|
|
|
By Chisa Fujioka and Oleg Shchedrov
LIMA (Reuters) - The United States, China, Japan and 18 other economies
in Asia and the Americas promised fast and decisive action on Sunday to
prevent a severe global economic downturn. |
|
|
|
 President-elect Obama is on track to nominate Sen. Hillary Clinton as his secretary of state after Thanksgiving, three aides on Obama's transition team told CNN Thursday. Obama met last week with Clinton to discuss the possibility of her serving in his Cabinet. |
|
|
|
 The trial in Paris of 42 individuals accused of involvement in illegal arms deals to Angola is threatening to upset efforts by the French president, Nicolas Sarkozy, |
|
|
|
|
|
|
