Sunday, October 25, 2009

Reuters | Asian leaders seek to reduce Western trade ties

HUA HIN, Thailand, Oct 25 (Reuters) - Asia-Pacific leaders called on Sunday for regional-wide free trade and other measures to reduce dependence on the United States and big Western markets as Asia leads the way out of the global economic downturn.

Japanese Prime Minister Yukio Hatoyama urged Asian leaders to keep up fiscal and monetary stimulus measures even as their economies show mounting signs of recovery, saying there was "no room for complacency" and that the job market was still "dire".

Japan's idea for an East Asian Community would encompass Japan, China, South Korea, India, Australia and New Zealand, along with the 10-member Association of South-East Asian Nations (ASEAN). Leaders from all those states joined Sunday's talks.....FULL STORY