APEC finance ministers meeting amid economy slowdown concernsOctober 22, 2014 - 08:09 AMT PanARMENIAN.Net - Asia Pacific finance ministers are meeting Wednesday, Oct 22, in Beijing to consider coordinated responses amid concerns over a slowdown in the regional economy highlighted by lower Chinese growth figures, the Associated Press reports. Opening the meeting of 21 ministers from Asia-Pacific Economic Cooperation economies, Chinese Vice Premier Zhang Gaoli said recovery from the global economic downturn had been tepid. But he said China was on track to meet its loose goal of 7.5 percent growth for the year, with inflation stable and the economy set to produce more than 10 million new jobs. "We have full confidence in the Chinese economy," said Zhang, who ranks seventh in the ruling Communist Party's hierarchy. The meeting comes a day after China, the world's No. 2 economy, announced that economic growth had dwindled to a five-year low of 7.3 percent in the last quarter, raising concerns of spill-over effects on the global economy. Wednesday's meeting is being chaired by China's finance minister Lou Jiwei and comes weeks ahead of APEC's leadership summit in Beijing. Participants, including those from the International Monetary Fund and World Bank, will discuss the regional economic outlook and discuss possible coordinated action to respond. An APEC news release said ensuring financing for infrastructure was among the issues to be discussed. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. Cyprus parliament honors Armenian genocide victims Acting House President Zacharias Koulias noted that April 24 marks the “black anniversary” of the Armenian genocide. Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. |