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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World After G-20 rancor, Pac Rim leaders push free trade By ELAINE KURTENBACH,Associated Press - Saturday, November 13 Send IM Story Print YOKOHAMA, Japan – Leaders of the world's three biggest economies _ the U.S., China and Japan _ all pledged Saturday to stick to free trade, apparently putting aside acrimony over currencies that has threatened to revive pressures for protectionism. The vows against backsliding toward retaliatory trade moves came at an annual summit of Pacific Rim leaders, just a day after a fractious summit of the Group of 20 major economies in South Korea. Speaking to a conference on the sidelines of the summit of the Asia-Pacific Economic Cooperation forum, Chinese President Hu Jintao vowed to keep his country's markets open and seek more balanced trade, while gradually adjusting the value of the Chinese currency _ which Washington complains is undervalued. "The international community should oppose protectionsim in all manifestations," Hu said in a speech that studiously avoided any overt references to frictions, diplomatic or economic, with the U.S. or Japan. President Barack Obama tried but failed to win support Friday from the Group of 20 major economies for an open call for Beijing to more quickly raise the value of its currency. Moving on to wider regional priorities, he reiterated America's commitment to deeper engagement with Asia, especially on trade. "In this region the United States sees a huge opportunity to increase our exports to some of the fastest growing markets in the world," Obama told the APEC conference. "For America this is a job strategy," he said. Regardless of strife over currency issues, Japan and others in the region are looking to the U.S. for a counterweight to China's increasingly aggressive stance on many issues. Most notably, relations between Japan and China are strained by conflicting territorial claims over islands in the East China Sea. That dispute flared up as the two sides squabbled over an incident in which a Chinese trawler collided with two Japanese coast guard vessels near disputed islands east of Taiwan. With the mood still frosty, it remained unclear if Hu would meet with host Prime Minister Naoto Kan during his visit. "If you talk to people in this region, they would tell you they are making very, very strong requests from this part of the world asking the U.S. to be more deeply involved," said Ding Xueliang, a China expert at Hong Kong's University of Science and Technology. Tokyo's ties with Moscow also are strained after Russian President Dmitry Medvedev visited an island off the northern coast of Japan that both nations claim. Kan was expected to meet with Medvedev later Saturday. Like his Chinese and U.S. counterparts, Kan promised to further open Japan's sluggish economy for the sake of future growth, despite protests from farmers who fear the loss of subsidies and protective tariffs. "We have to grow with the fast developing economies of the Asia-Pacific," Kan told the business conference. "We will liberalize our trade." As a precaution against protests from farmers and other disruptions, some 21,000 police were standing guard near the summit venue in Yokohama, which 150 years ago was one of the first Japanese ports opened to foreign trade _ under pressure from American warships. The G-20 summit in Seoul, South Korea, ended with an agreement to refrain from "competitive devaluations" but no consensus on a U.S. push to get China to let its currency rise. Washington accuses Beijing of deliberately keeping its currency, the yuan, weak to gain a trade advantage. That stance has been undermined, however, by the U.S. policy of printing money to boost the sluggish American economy, which is weakening the dollar and provoking complaints from Brazil, Germany and China. Alluding, perhaps, to the demands for quicker liberalization of its currency controls and other financial restrictions, like other emerging markets that have helped power the rebound from the world financial crisis, China faces many challenges and has far to go to achieve its own modernization, Hu said. The responsibilities required of emerging economies should be "commensurate with their development stage," he said. "The Asian-Pacific emerging markets are still at the primary stage of development and their abilities and resources are limited. Asking them to take on responsibility beyond their capabilities ... will do no good," he said. Still, Hu pledged that Beijing will "participate in international rules making in a responsible way." About half the leaders from the G-20 meeting are attending APEC, which represents more than half of the world's GDP. Yet, there was no sign that the ill-will shown in Seoul had carried over to Yokohama. APEC, founded in 1989 to promote regional integration, aims to move toward creating a Free Trade Area of the Asia-Pacific, or FTAAP, including all its 21 economies. Such a trading bloc might help reconcile various smaller trade agreements, but it would not be forged by APEC itself, which lacks a mandate for enforceable agreements. "There is no pressure to be aggressive because it's nonbinding," said Philippine Foreign Undersecretary Antonio Rodriguez. "That's the beauty of APEC." Such a goal would likely be built from existing free trade agreements, such as the U.S.-backed Trans-Pacific Partnership, or TPP. It now includes only four small economies _ Brunei, Chile, New Zealand and Singapore _ but the U.S., Australia, Malaysia, Vietnam and Peru are in talks to join them. ___ Associated Press writers Jim Gomez, Tomoko A. Hosaka, Malcolm Foster and Mari Yamaguchi contributed to this report. 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