Harper: Don't Panic, APEC

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Published: Wednesday, 11/26/2008 12:00 am EST

In a speech at the APEC meetings in Peru this week, Prime Minister Stephen Harper urged world leaders to increase spending, maintain open trading relationships and support financial institutions and struggling industry sectors, Canwest News Service reported. Mr. Harper said the Great Depression was caused by governments letting banks fail and by maintaining balanced budgets at all costs. "The world is entering an economic period unlike, and potentially as dangerous as, anything we have faced since 1929," Mr. Harper said. "Now is the time for opening doors, not erecting walls."

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