{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Finance ministers meet, APEC leaders begin to arrive' data-url='/boclips/videos/5c54bd38d8eafeecae1327f8' data-video-url='/boclips/videos/5c54bd38d8eafeecae1327f8' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nFinance ministers meet, APEC leaders begin to arrive\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Wide of ASEAN (Association of South East Asian Nations) and US breakfast meeting2. Close up of US Treasury Secretary Timothy Geithner3. Mid of Geithner and Thailand Finance Minister Korn Chatikavanij4. Mid of Myanmar Finance Minister...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Wide of ASEAN (Association of South East Asian Nations) and US breakfast meeting\u003cbr/\u003e2. Close up of US Treasury Secretary Timothy Geithner\u003cbr/\u003e3. Mid of Geithner and Thailand Finance Minister Korn Chatikavanij\u003cbr/\u003e4. Mid of Myanmar Finance Minister Hla Tun\u003cbr/\u003e5. Wide of APEC ministerial meeting \u003cbr/\u003e6. Mid of Japanese Trade Minister Naoshima Masayuki\u003cbr/\u003e7. Mid of Peruvian Trade Minister Eduardo Ferreyros Kuppers\u003cbr/\u003e8. Wide of Chinese Foreign Minister Yang Jiechi sitting down\u003cbr/\u003e9. Close up of Australian Trade Minister Simon Cream\u003cbr/\u003e10. SOUNDBITE: (English) Mari Pangestu, Indonesian Trade Minister:\u003cbr/\u003e\"The continued openness of trade and investment within the region has led to an increase in intra Asia-Pacific trade without there being a free trade agreement. We can continue this, work on the facilitation agenda and the capacity-building agenda while we can review the possibility (of a free trade area of Asia Pacific) in the long term.\"\u003cbr/\u003e11. Set up of Australian Treasury Secretary Wayne Swan\u003cbr/\u003e12. SOUNDBITE: (English) Wayne Swan, Australian Treasury Secretary:\u003cbr/\u003e\"The global growth, as we go forward, is not going to be as driven by the Western consumer as it once was. And in this region, there is an immense capacity to lift productivity and drive global growth.\"\u003cbr/\u003e13. Wide of group photo of APEC finance ministers\u003cbr/\u003e14. Close up of Geithner\u003cbr/\u003e15. Pan of group photo\u003cbr/\u003eAsia-Pacific finance ministers brainstormed on Thursday strategies to sustain the global economic recovery amid calls to create a region-wide free trade area and end all restrictions on food trade.\u003cbr/\u003eFinance ministers of the 21-member Asia-Pacific Economic Cooperation (APEC) forum met for breakfast before beginning formal talks ahead of a summit of their leaders this weekend.\u003cbr/\u003eUS President Barack Obama, Chinese President Hu Jintao and Japanese Prime Minister Yukio Hatoyama will be at the summit among others.\u003cbr/\u003eA joint statement due to be released by the finance ministers says the key challenges facing the world economy in the post-crisis period include restoring growth potential, withdrawing stimulus packages and meeting the region's massive infrastructure needs.\u003cbr/\u003e\"We are committed to supporting open trade and investment to advance Asia-Pacific and global prosperity and growth ... and (we) will actively resist projectionist measures,\" said the proposed statement. \u003cbr/\u003eA draft was obtained by The Associated Press.\u003cbr/\u003eThe ministers also committed to strengthen financial supervision and regulations to prevent excess credit growth, blamed for the biggest financial crisis the world has seen since the 1930s.\u003cbr/\u003eA main focus for the regional dialogue remains an effort to create an Asia-Pacific free trade area, which would account for about half the world's exports and imports if it becomes a reality.\u003cbr/\u003eMari Pangestu, the Indonesian Trade Minister said the continued openness between members of APEC has led to \"an increase in intra Asia-Pacific trade\" without a free trade agreement being in place. \u003cbr/\u003eNew Zealand Trade Minister Tim Groser said he was optimistic that Obama would support the free trade given the deadlock in World Trade Organisation talks.\u003cbr/\u003eHe noted that four APEC members, New Zealand, Singapore, Brunei and Chile, already have a free-trade pact which could be expanded.\u003cbr/\u003eBut the plan is still some years away because of reluctance among some members, especially in Southeast Asia, to sign on to an agreement that would be dominated by the US.\u003cbr/\u003eAPEC was founded 20 years ago to promote greater trade and integration around the Pacific Rim. \u003cbr/\u003eIts scope has since expanded to encompass a wide range of issues, including climate change, energy security and food security for the (m) millions of vulnerable poor in the region.\u003cbr/\u003eIn a significant breakthrough, APEC government officials have agreed that the leaders should discuss a plan to abolish all trade restrictions on food.\u003cbr/\u003eThe plan was recommended by the APEC Business Advisory Council, or ABAC, a council of regional business leaders.\u003cbr/\u003eABAC says free trade in food would allow APEC members to use each other's strengths to produce the best and cheapest food for all.\u003cbr/\u003eIf the plan takes off, Thai rice could be imported in any amount by any APEC member. \u003cbr/\u003eCurrently, many countries including the Philippines, Japan and South Korea restrict rice imports to protect their farmers.\u003cbr/\u003eIn a report on Wednesday, the Pacific Economic Cooperation Council, an APEC-affiliated think tank, called for fundamental reforms to shift growth away from a dependence on exports to the U.S.\u003cbr/\u003e\"We know that global growth, as we go forward, is not going to be driven on the Western consumer as it once was,\" said Australian Treasurer Wayne Swan. \"In this region, there is immense capacity to lift productivity and drive global growth,\" he said.\u003cbr/\u003eObama, visiting Asia for the first time since he took office in January, will be seeking to counter the perception of declining US power.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton 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