Trade

Speaking to the Asia-Pacific Economic Cooperation, China President Hu Jintao urges increased representation and influence for emerging countries

November 12, 2011

“The new mechanism for global economic governance should reflect the changes in the world economic landscape,” Hu told executives at the Asia-Pacific Economic Cooperation (APEC) summit in Honolulu.

“It should observe the principle of mutual respect and collective decision-making and increase the representation and voice of emerging markets and developing countries,” he said, urging a more “balanced partnership” for development and governance.”

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Attackers blow up gas pipeline in Egypt’s Sinai Peninsula that transports fuel to Israel and Jordan

November 11, 2011

“Attackers set off explosives along a gas pipeline in Egypt’s Sinai Peninsula that transports fuel to neighboring Israel and Jordan early on Thursday, Egypt’s state news agency MENA reported. It was the seventh attack on the pipeline since the popular uprising ousted longtime Egyptian leader Hosni Mubarak in February.

The report on MENA said unidentified assailants placed explosive charges in two separate places on the line that transports natural gas near the north Sinai town of el-Arish, causing blasts and huge fires. The explosions forced a shutdown and halted exports to Jordan and Israel.”

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Japan’s Prime Minister delays decision on the U.S.-backed Asia-Pacific free trade agreement

November 11, 2011

“With Japan’s ruling party still divided over a controversial regional free trade deal, Prime Minister Yoshihiko Noda on Thursday delayed for at least a day his decision on whether Japan should commit to the pact.

Joining the U.S.-backed Asia-Pacific free trade agreement could transform the world’s third-largest economy, slashing tariffs, allowing for cheaper imports and giving new opportunities for struggling exporters. But new foreign competition could also cripple the agriculture industry, whose many advocates — including those in Noda’s party — say the deal will threaten rural areas.

Noda promised to make a decision before taking off for this weekend’s Asia-Pacific summit in Hawaii, where he will meet with U.S. President Obama.”

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