Word: agreement
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...Doha Development Round, which is supposed to lower trade barriers globally. Leaders at the upcoming APEC summit are expected to commit to the completion of a basic framework for an Asia-Pacific zone by the end of 2010. While the details have yet to be hammered out, such an agreement would be an unprecedented step forward. One thing is for certain: this year's APEC must generate more than an amusing photo...
...which the dollar is overvalued against the Chinese yuan (among other emerging-market currencies). That has contributed to big U.S. trade deficits and, as China built up a huge stash of dollars it needed to put somewhere, to the credit bubble that precipitated the financial crisis. There's widespread agreement that this setup has to change but little agreement about how to change it. Which is a risky situation...
...their press conference there was some hint of the discord, especially as it related to the basing of U.S. marines on Okinawa. Obama said the continuing discussions over U.S. bases in Japan would "focus on the implementation of the agreement" that was already struck. Hatoyama, by contrast, spoke of the possibility of considering relocation of U.S. forces "outside Okinawa and outside of the country...
...success has not yet been matched by resolution of the United States' foreign policy challenges, not only in Pakistan, Afghanistan and North Korea, but also among allies. Several Asian nations, most particularly South Korea, have waited anxiously for word that Obama intends to prioritize finalizing a new free trade agreement, something the White House has begun to signal this week. China, meanwhile, has expressed growing concern about the U.S. trade policy and the spiraling U.S. national debt, which endangers the value of China's vast investment in U.S. currency...
...Sharmarke, who is Prime Minister of Somalia's Transitional Federal Government. The following day, after declaring that the two pirates "have to be tried," Spanish Justice Minister Francisco Caamaño Dominguez affirmed that the administration had left open the door to a trial in Somalia if an agreement could be reached. Because Spain has no extradition treaty with Somalia, which it considers to be a failed state, the government is said to be considering turning the two men over to a Kenyan court - an option employed in the past by Britain...