APEC's role in recovery vital

Bilateral, regional and multilateral channels should be used to stop Washington from transferring its troubles to others

The 18th informal Asia-Pacific Economic Cooperation (APEC) economic leaders' meeting will be held in Yokohama, Japan on Saturday and Sunday.

Established in 1989 in Canberra, capital of Australia, APEC now has 21 member economies (19 sovereign states and two regions). Among its members are the world's top economic power and economies of a region with the fastest growth rate. Its members account for about 57 percent of the world's GDP, making it the largest regional economic cooperation forum. And before the global financial crisis, APEC members accounted for 45.8 percent of the world trade.