Growth has remained stuck at around five percent for the past three years and the latest result was unlikely to signify the start of a sustained recovery.

APEC is the leading economic forum in the Asia Pacific region with a focus on supporting sustainable economic growth and prosperity of economies within the region.

By filling the sea along its coasts with imported sand, the tiny island nation has expanded its physical size by about 24 percent since 1960.

“If we assume that investment will pickup, then I think we will have much more upside.”

“By helping banks with more cash availability, we will be able to bring down lending interest rates at banks without having to cut our policy rates.”

Xi painted China’s governance system as a unique development model while hailing signature policies like his Belt-and-Road infrastructure initiative and anti-corruption campaign.

Eight rate reductions since the beginning of last year, including two back-to-back surprise cuts this year, have failed to fire up Southeast Asia’s largest economy.

Jokowi has attempted to wean the country off commodities and push investment in value-added manufacturing and services.

Foreign reserves are at a record high of 129 billion dollars while bond market inflows are near record levels.

An economic boom accompanied by surging credit growth has fuelled speculation that Bangko Sentral ng Pilipinas may need to tighten monetary policy.