The 21 countries of the Asia Pacific Economic Cooperation trade group promised on Tuesday to implement responsible macroeconomic policies that will help offset slowing global economic growth and weaker trade.
“Global growth is too weak, risks remain tilted to the downside, global trade is weakening and the economic outlook suggests growth is likely to be slower and less balanced than desired,” the group said in a prepared statement.
“We will implement prudent and responsible macroeconomic policies to ensure mutually reinforcing effect of growth and to maintain economic and financial stability in the region, and prevent negative spillover effect.”
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