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Bush Sees Difficult Days Ahead

The APEC Leaders' Summit comes at a time of serious turmoil in the global economy. It also comes at a time of unprecedented cooperation, U.S. President George Bush said in his weekly radio address.

A week ago in Washington, Bush hosted the first in what will be a series of international meetings to address the financial crisis.

World leaders reviewed the actions they have taken to manage the crisis. And they agreed on principles and specific actions to modernize their financial structures for the 21st century and help prevent another crisis.

"As we work to rebuild confidence in our financial systems in the short term, we must also work to promote long-term economic growth," Bush said.

"Together, our nations must focus our efforts on three great forces that drive this growth -- free markets, free trade, and free people."

"No region of the world demonstrates the power of these forces more vividly than the Asia Pacific. Free markets have helped millions lift themselves out of poverty."
 
"Free trade has helped small nations turn themselves into global economic powers. And as more people in the Asia Pacific are free to develop their talents and pursue their ambitions, the whole region has grown in prosperity."

News source: Andina

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