US President Barack Obama warned emerging economies like China against relying heavily on exports Saturday at the APEC forum in Japan, as the divisions between America and China on trade and currency issues re-emerged Saturday.
REUTERS - Cracks between advanced and emerging economies that were papered over by the G20 resurfaced at an Asia-Pacific summit on Saturday, with Washington and Beijing returning to their positions on trade and currencies.
"No nation should assume that their path to prosperity is simply paid for with exports to America".
"One of the important lessons the economic crisis taught us is the limits of depending primarily on American consumers and Asian exports to drive economic growth," Obama told a forum of Asia-Pacific business leaders.
Date created : 2010-11-13