Lima - Chinese President Hu Jintao met outgoing US President George W Bush on the sidelines of an Asia-Pacific summit, discussing North Korea's nuclear programme and the global financial crisis, a White House spokeswoman said.

Lima  - When leaders of the 21 economies that comprise the Asia-Pacific Economic Cooperation (APEC) forum formally launch their annual meeting Saturday, their greatest temptation might well be "Divine Sin."

The "Divine Sin" in question is actually a cocktail that Peruvian expert Eladio Espinoza has created from two products that Peru is most proud of: Pisco, a liquor and chirimoya, a type of custard apple.

APEC leaders were to be offered the treat at lunch and dinner.

Lima  - The leaders of several emerging economies on Friday issued a message of cautious hope amid the gloom of the widening global economic crisis, by stating that new opportunities are arising even though the financial world is struggling.

In comments to the CEO summit that preceded this weekend's annual Asia-Pacific Economic Cooperation (APEC) forum, Peruvian President Alan Garcia was particularly graphic: "I claim that the world is not sick but is rather suffering from growing pains."

Lima  - Chinese President Hu Jintao, addressing business leaders Friday in Lima ahead of the annual APEC Leaders' Meeting, said that the current economic crisis presents the world with a major challenge.

"The situation is very grim," Hu said.

The crisis has spread "from some areas of the world to the entire globe, from developed countries to emerging countries and from the financial sector to the real economy," he said.

Lima  - Chinese leader Hu Jintao, addressing business leaders Friday in Lima ahead of the annual APEC Leaders' Meeting, said that the current economic crisis presents the world with a major challenge.

"The situation is very grim," Hu said.

The crisis has spread "from some areas of the world to the entire globe, from developed countries to emerging countries and from the financial sector to the real economy," he said.

Lima  - Peruvian President Alan Garcia on Friday defined the financial and economic crisis that is currently affecting the world as both a "painful childbirth" and "growing pains," rather than an outright illness affecting global capitalism.

"This is a wealth crisis and a system expansion crisis and it should not be treated with statism or protectionism," Garcia said in Lima, as he opened the CEO summit that precedes this weekend's APEC Leaders' Meeting.

"I claim that the world is not sick but is rather suffering from growing pains," he said.

Garcia, a staunch advocate of free trade, insisted that trade liberalization is the best possible way forward even at a time of crisis.