Open trade and people-centered strategies are key for sustained, stable growth, U.S. President Barack Obama and Asia-Pacific leaders said Nov. 15 in Singapore, pledging to persist with stimulus spending until a global recovery is assured.

The leaders wrapped up the annual meeting of the 21-member Asia-Pacific Economic Cooperation forum with a joint pledge to resist protectionism. They also endorsed policies to encourage more environmentally friendly growth that is "balanced, inclusive and sustainable, to ensure a durable recovery that will create jobs and benefit our people."

Growth led mainly by American consumption and borrowing, and Chinese exports, is not sustainable in the long term, said Lee Hsien Loong, Singapore's prime minister. Neither is relying on debt-backed stimulus spending to spur demand.

"We know that the old formulas are not going to work as well in the future because it's a different world," he said. "You have to find another balance."

Obama earlier joined a summit with all 10 leaders of the Association of Southeast Asian Nations, the first ever between a U.S. president and ASEAN, including military-ruled Myanmar. In the unusual encounter, Obama told Myanmar's Prime Minister Gen. Thein Sein to free pro-democracy leader Aung San Suu Kyi.