World Bank president speaks at Singapore conference

Bangkok News.Net
Tuesday 10th November, 2009

World Bank President Robert Zoellick has told a meeting in Singapore that Asia’s positive attitude in overcoming the global recession is a good example of how it should have been handled.

At the Asia-Pacific Economic Cooperation Forum, Zoellick said it was quite intriguing for him to be in Asia, where the real challenge has been in structural change to increase the possibility of growth.

He said that in Europe, most of the focus of the crisis is now on regulation, compensation and bonuses.

Mr Zoellick will remain in Singapore until the weekend, when the leaders of all member states, including US President Barack Obama, join together.

APEC, which marks its 20th anniversary this year, consists of Australia, Brunei, Canada, Chile, China, Indonesia, Hong Kong, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, the Philippines, Singapore, South Korea, Taiwan, Thailand, Peru, Russia, the US and Vietnam.

APEC represents about 54 percent of the global gross domestic product and 44 percent of world trade.

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