China will be this year's host for the Asia-Pacific Economic Cooperation (APEC) Leaders' Meeting in November. Although the event is yet to comment, countries attending the affair have already pledged to pursue "flexible" fiscal policies to promote job creation and enhance and support global economy.

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In a joint statement released yesterday, the countries' finance ministers said the rather slow global economic growth was not enough in creating enough jobs around the world and one of the key points that will be discussed in the Leaders' Meeting is to advance structural reforms to create new sources of growth.

"As the global economy still faces persistent weakness in demand, growth is uneven and remains below the pace necessary to generate needed jobs and downside risks have risen," the statement said.

The statement disclosed that the leaders will push and implement their fiscal policies taking into account the economic conditions to support global  economy and creation of jobs while ensuring fiscal sustainability.

APEC member-countries include China, United States, South Korea, Japan, Indonesia, and Canada. Records showed that these countries account for 40% of the world's population and 54% of its economic output.

The same member countries also account for 44% of its trade worldwide.

Deputy Treasury Secretary Sarah  Bloom Raskin said that economic recovery in the U.S. has strengthened, and that it is up to the other economies to take policy conditions to boost demand.

The finance ministers' meeting also vowed to move toward market-determined  and flexible exchange rates and reflect underlying fundamentals.

The 21-member APEC bloc said it will prioritize the decreasing job opportunities in most countries and promote employment through the creation of job opportunities.

The finance leaders' meeting came on the heels of  China's economy which grew at  its slowest rate in the third quarter, years after the 2008-2009 financial crisis.

TagsAPEC, Jobs, APEC member-countries