Asia leading world out of downturn: Bush

Former US president George W. Bush praised Asian economies Wednesday
for leading the global economy out of its slump, while warning
against a rise in trade protectionism. "One thing I am certain of is
that the Asian economies are leading the world out of the economic
duress. That's an amazing statement to make," Bush said in a keynote
speech to the World Knowledge Forum in Seoul. China, South Korea,
Singapore, Hong Kong, Taiwan, Japan and Thailand were performing
well thanks to clever stimulus policies, he said. "The Asian economies
are going to be a powerful engine for growth for the future," Bush
said. "I'm optimistic that things are getting better." But he
cautioned against a rise in protectionism. "In times of economic
difficulties... people tend to want to throw up walls and barriers to
trade. I'm deeply concerned about protectionism," he said. "I
believe strongly that the best way to not only encourage growth but
deal with global poverty is free trade." Bush repeated his support
for US free trade accords with South Korea and Panama, which were
both signed under his leadership but have yet to be ratified by
Congress.