ASEAN vows coordinated effort vs economic crisis

In a joint statement issued at the end of the two-day 14th ASEAN Summit in Hua Hin, Thailand, the leaders vowed to shun protectionism and to support efforts that would bolster global trade, while allotting sufficient resources to save jobs and assist vulnerable sectors.

The statement did not spell out any specific actions but the leaders said they endorsed expansionary policies, including fiscal stimulus plans, monetary easing, access to credit and trade financing, and measures to stimulate domestic demand.

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