Currently, the APEC (Asia-Pacific Economic Cooperation) which is a forum for 21 Pacific Rim member economies that promotes free trade throughout the Asia-Pacific region, is being held in Manila Philippines. It marks the second time the Philippines is playing host to the APEC, having hosted the event previously in 1996.
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The objectives of the APEC Summit is to sustain the growth and development of the region for the common good its peoples and, in this way, to contribute to the growth and development of the world economy. Also to enhance the positive gains, both for the region and the world economy, resulting from increasing economic interdependence, including by encouraging the flow of goods, services, capital and technology. It will help to develop and strengthen the open multilateral trading system in the interest of Asia-Pacific and all other economies.
However, the summit was covered with speculations and critism by Filipino activists.
According to Philstar, a local newspaper, commuters and motorists took on social networking sites on the heavy traffic situation caused by the road closures and rerouting schemes in different Metro Manila roads in anticipation to the APEC meeting. Others have turned to social media to release their anger.
From NBC News, demonstrators opposing the summit have taken it to the streets to show their dismay. See pictures below.
On The other hand, US President Barrack Obama called on China to halt its construction on reclaimed islands in the South China Sea, raising the contentious issue at the start of a two-day economic summit meeting.
Mr. Obama directly addressed the disputed Chinese claims to islands in the critical waterway. He has also urged China to stop military activities there and endorsed a process of arbitration to settle differences between Beijing and its Southeast Asian neighbors.
“We agree on the need for bold steps to lower tensions, including pledging to halt further reclamation, new construction and militarization of disputed areas in the South China Sea,” Mr. Obama said.
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