Bush’s Final Foreign Trip Dominated By Economy
And there is room for the United States to make headway at this summit, in terms of building more teamwork. That’s particularly true for the APEC countries of East Asia, Mallaby said, where regional cooperation is traditionally weaker and go-it-alone exchange rates can erode economic stability.
The centerpiece of Bush’s schedule is a speech Saturday to Asia-Pacific government and business leaders.
White House national security spokesman Gordon Johndroe said the president will use the speech to underscore the U.S. commitment to the region, promote free trade, push for foreign investment in the U.S., and outline the need for social justice efforts such as support for health and education.
Ahead of the summit, finance ministers from the 21 Pacific Rim countries endorsed international cooperation to combat the economic crisis. The matter is so dominant that APEC, which in forums past has focused on climate change, terrorism and war, is returning to its roots as an economic advocate.
It is uncommon for Bush to just visit one country on a trip built around a world gathering, as he is in Peru. He usually will visit other countries with strategic significance or promote U.S. aid efforts.
Johndroe said it was useful for Bush to be gone for the shorter, three-day period “given all of the economic issues that have to be dealt with back here.”
This week, the National Association for Business Economics projected that the overall U.S. economy, which shrank at an annual rate of 0.3 percent in the July-September period, would contract at a rate of 2.6 percent in the current October-December quarter.
Tags: aid efforts, apec, apec countries, asia pacific, business economics, business leaders, centerpiece, climate change, east asia, economic crisis, economic issues, economic stability, finance ministers, foreign investment, gordon johndroe, headway, international cooperation, pacific rim countries, regional cooperation, terrorism and war
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Tuesday, November 18th, 2008 at 6:25 pm under