Bush Leaving Regional Stage

President Bush has probably attended his last regional summit,the Asia-Pacific Economic Cooperation event in Lima,Peru last weekend.Mr.Bush told the Pacific Rim gathering that recovering from the financial crisis will take time,but we'll get there.There are times when government intervention is essential;yet it is also essential that nations resist the temptation to over-correct by imposing regulations that would stifle innovation and choke off growth.The president insisted that free markets,free trade and free peoples are the way out of the crisis.One of the lessons of the Great Depression is the harmfulness of global protectionism.The APEC countries agreed to refrain for 12 months from raising new barriers to investment or to trade.They also endorsed the principles agreed at the Summit on Financial Markets and the World Economy,which Mr.Bush hosted the previous weekend.President Bush met with Russian president Dmitry Medvedev while in Lima.Their talks were described as cordial,but direct and frank,covering the Georgian flare-up,as well as the financial crisis and anti-missile defense in Poland.The two leaders appear to be friends,readily smiling and shaking hands.