US President George W.
Bush has made an impassioned defence of economic liberalism on what is believed to be his final trip abroad in office. Bush urged leaders from the Asia Pacific region, at a gathering in Peru, not to abandon free trade in the face of an economic crisis. Addressing the annual Asia Pacific Economic Cooperation forum, Bush said that one of the enduring lessons of the Great Depression was that protectionism was a path to economic ruin. The APEC summit in Lima is considering building on last weekend's response to the financial crisis by the Group of 20 economies.
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