Asian leaders focus on growth and economy

Last Updated: Tue, Nov 20, 2012 20:12 hrs

The general feeling among the leaders at the Asean summit was that global economic recovery would take a long time, according to a top government official.

So, Asia must get its economies moving quickly, the heads of governments and top officials from across the world seemed to suggest. And, that business stability and peace should go hand in hand anywhere in the world.

On whether India’s falling GDP growth and the noise over foreign direct investment (FDI) in the retail sector were seen as a dampener by the world leaders, the official said, “Nobody is bothered about the noise on FDI.” On growth dip, he argued that all countries, including China and Indonesia, have experienced a slowing. “But, now we have to find sources of stimulus and growth, as the times have changed from the slowdown of 2008-09. We can’t count on the rest of the world,” he added. “This may well be the silver lining for Asia, to look for growth within the region.”

On the maritime disputes involving China and its Asian neighbours, the source said every leader at the Asean summit spoke on it. “We have to deal with it peacefully and legally, and everyone agrees with that view.” India would support any peaceful settlement of the disputes, the official said.

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