Asia-Pacific leaders making up half the global economy on Sunday voiced hope that the global financial crisis would be over within 18 months.
The gathering in Peru marked the farewell to international summits for US President George W. Bush, who won hope for one last-minute breakthrough as new talks were scheduled on ending North Korea’s nuclear program.
The leaders of the 21-member APEC forum vowed in a joint declaration to “act quickly and decisively” against the global economic crisis, although they offered no specific new action.
In an unusual move, a separate statement on the global economy released on Saturday was modified in the middle of the night to voice more optimism.
“We are convinced that we can overcome this crisis in a period of 18 months,” the added language said.
Delegates said that the stronger wording came at the urging of Peruvian President Alan Garcia, the host of the summit.
“We have agreed on this firm statement that will break the vicious circle of anxiety and uncertainty,” Garcia said. “We are going to fight this crisis to the bitter end.”
He spoke in front of leaders gathered next to him in shapeless brown ponchos, fulfilling an APEC tradition of wearing local outfits for the final group picture.
Some leaders, particularly Russian President Dmitry Medvedev, had to be convinced not to take off the wool mountain cloaks as they stood to listen to Garcia’s address.
Not all APEC leaders were convinced either that the crisis would be over by mid-2010.
“I think it would be premature to speculate on that kind of timeline,” Canadian Prime Minister Stephen Harper told reporters.
Mexican President Felipe Calderon said the timeframe was only an estimate.
“Dates that get mentioned in statements like this reflect the estimates worked out by different representatives of each government,” he said.
Dan Price, Bush’s adviser for the summit, said that Garcia had added the 18-month timeframe, reflecting the view of some in the region.
Price said he saw “very, very strong” sentiment at APEC to revive WTO talks by meeting a year-end deadline to find a solution on a key dispute between rich and developing nations.
“The conviction to get it done was unprecedented,” Price said.
Super Typhoon Kong-rey is the largest cyclone to impact Taiwan in 27 years, the Central Weather Administration (CWA) said today. Kong-rey’s radius of maximum wind (RMW) — the distance between the center of a cyclone and its band of strongest winds — has expanded to 320km, CWA forecaster Chang Chun-yao (張竣堯) said. The last time a typhoon of comparable strength with an RMW larger than 300km made landfall in Taiwan was Typhoon Herb in 1996, he said. Herb made landfall between Keelung and Suao (蘇澳) in Yilan County with an RMW of 350km, Chang said. The weather station in Alishan (阿里山) recorded 1.09m of
STORM’S PATH: Kong-Rey could be the first typhoon to make landfall in Taiwan in November since Gilda in 1967. Taitung-Green Island ferry services have been halted Tropical Storm Kong-rey is forecast to strengthen into a typhoon early today and could make landfall in Taitung County between late Thursday and early Friday, the Central Weather Administration (CWA) said yesterday. As of 2pm yesterday, Kong-Rey was 1,030km east-southeast of Oluanpi (鵝鑾鼻), the nation’s southernmost point, and was moving west at 7kph. The tropical storm was packing maximum sustained winds of 101kph, with gusts of up to 126 kph, CWA data showed. After landing in Taitung, the eye of the storm is forecast to move into the Taiwan Strait through central Taiwan on Friday morning, the agency said. With the storm moving
NO WORK, CLASS: President William Lai urged people in the eastern, southern and northern parts of the country to be on alert, with Typhoon Kong-rey approaching Typhoon Kong-rey is expected to make landfall on Taiwan’s east coast today, with work and classes canceled nationwide. Packing gusts of nearly 300kph, the storm yesterday intensified into a typhoon and was expected to gain even more strength before hitting Taitung County, the US Navy’s Joint Typhoon Warning Center said. The storm is forecast to cross Taiwan’s south, enter the Taiwan Strait and head toward China, the Central Weather Administration (CWA) said. The CWA labeled the storm a “strong typhoon,” the most powerful on its scale. Up to 1.2m of rainfall was expected in mountainous areas of eastern Taiwan and destructive winds are likely
The Central Weather Administration (CWA) yesterday at 5:30pm issued a sea warning for Typhoon Kong-rey as the storm drew closer to the east coast. As of 8pm yesterday, the storm was 670km southeast of Oluanpi (鵝鑾鼻) and traveling northwest at 12kph to 16kph. It was packing maximum sustained winds of 162kph and gusts of up to 198kph, the CWA said. A land warning might be issued this morning for the storm, which is expected to have the strongest impact on Taiwan from tonight to early Friday morning, the agency said. Orchid Island (Lanyu, 蘭嶼) and Green Island (綠島) canceled classes and work
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