September 12, 2018 / 5:38 AM / 13 days ago

Putin says global protectionist trend challenges Asian economies

VLADIVOSTOK, Russia (Reuters) - The growing global trend towards economic protectionism and barriers to trade is a particular challenge for Asia’s economies, Russian President Vladimir Putin said on Wednesday at a forum attended by the leaders of Japan and China.

Russian President Vladimir Putin attends a meeting with participants of a round table discussion on Russia-China Cooperation on the sidelines of the Eastern Economic Forum in Vladivostok, Russia September 11, 2018. Donat Sorokin/TASS Host Photo Agency/Pool via REUTERS

“The global economy is more and more often encountering harsh forms of protectionism,” Putin said at the Eastern Economic Forum on Russia’s Pacific coast. “Fundamental principles of trade, competition and economic benefits are being debased ... becoming hostage to ideological approaches.”

“Clearly, this is a serious challenge for the whole global economy, especially for the dynamic growth of the Asia-Pacific region,” he said.

Reporting by Denis Pinchuk, Polina Nikolskaya and Vladimir Soldatkin; Writing by Christian Lowe; Editing by Shri Navaratnam

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