Leaders predict recovery in 18 months

But the heads of Canada and Mexico called the timeline more of a goal.

By NEWS SERVICES

Last update: November 23, 2008 - 9:16 PM

LIMA, PERU - President Bush and other world leaders vowed Sunday to act "quickly and decisively" to battle the global economic crisis, as a 21-nation summit predicted worldwide recovery in 18 months.

But the final declaration from the Asian Pacific Economic Cooperation (APEC) forum was short on specifics, beyond a vow to avoid pressures to implement "protectionist" measures.

Also, Mexican President Felipe Calderon and Canadian Prime Minister Stephen Harper described the 18-month time line as more of a goal than a prediction.

The summit -- Bush's final scheduled foreign trip as U.S. leader -- may have been more symbol than substance, analysts agreed. But the forum gave the White House the added support it had sought for its broad guidelines to avert a worsening global economic crisis.

The APEC group strongly backed the so-called "Washington Declaration," a blueprint for economic stimulus and improved regulation hammered out by 20 participating nations earlier this month in the U.S. capital.

The president's imminent departure from office had a clear effect on the summit's proceedings, and advisers to Bush were realistic about what they could accomplish.

"I think the very understandable concern of these foreign governments is, will the new administration do some sort of policy review?" said Dennis Wilder, Bush's chief foreign policy adviser for East Asia.

Bush did walk away with a promise from China to host another round of the so-called six-party talks on North Korea's nuclear ambitions. Bush is looking to lock President-elect Barack Obama into the six-party process, in which the United States, Russia, Japan, China, South Korea and North Korea have been meeting since 2003 to bring about a peaceful end to North Korea's nuclear program.

No date has been set for the meeting, although administration officials expect it will take place in early December.

"I think they're very conscious of the fact that it's important to do this," Wilder said, "in part because there's an American transition going on."

The Los Angeles Times and New York Times contributed to this report.

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