A statement issued at the end of the Asia-Pacific Economic Cooperation (APEC) summit in Singapore did not include targets for greenhouse gas emissions cuts, Reuters reported. Earlier drafts had included a 50% reduction target from 1990 levels by 2050, as well as endorsements of "market-oriented exchange rates." A Chinese foreign ministry official attending the summit earlier criticized developed nations for standing in the way of successful climate change negotiations, though he declined to say which countries had opposed the reduction target. China has in the past refused to accept binding emissions targets, arguing the greater responsibility for global warming lies with developed countries, particularly the US. The APEC statement represents a weakening of the position of US President Barack Obama, who had championed a comprehensive climate change deal. Upcoming climate talks in Copenhagen are now more likely to produce a weakened interim agreement.