SHANGHAI, China (AP) - With Pacific Rim leaders pushing more economic globalization, Malaysia's leader delivered an alternative broadside Saturday against ways of the West he says are leaving too many people behind.

"The sacred truth that every globalization ideologue knew not so long ago was that globalization is always good - always good for every one, at all times, in every way," Prime Minister Mahathir Mohamad told business leaders gathered here for the weekend APEC summit.

No so, Mahathir said.

"This is so contrary to the facts as they have been experienced by the countries of East Asia, Africa and Latin America," he said, adding there have been few winners and far too many losers.

President Bush took the opposite view, saying that "trade is the engine of economic advancement" and essential to improving peoples' opportunities and fortunes.

"Choose openness, trade and commerce and you will find prosperity, liberty and knowledge," Bush said during a forum where the 21 APEC members are calling for new World Trade Organization talks to start next month.

"Choose isolation and envy and resentment and you will find poverty, stagnation and ignorance," Bush said.

He added: "Trade applies the power of markets to the needs of the poor."

As examples, Bush said, markets and trade have helped China's per capita gross domestic product rise by 513 percent since 1975, Malaysia has been able to cut its illiteracy rate by two-thirds and other nations have sharply reduced infant mortality.

But Mahathir said there has to be a better way than following "the principal pulpits of capitalism and the free market, including the WTO."

"If globalization is to be sustainable, there must be many more winners and many fewer losers, and they should both be a mixture of the rich and the poor," the Malaysian said.

"The winners must not win to an obscene extent, and the losers must not lose to an equally obscene extent," Mahathir said.

Mahathir has long been a vocal critic of free trade as promoted by the wealthy industrial countries - and a foe of financiers including billionaire George Soros, whom Mahathir accused of aggravating Asia's financial crisis of 1997-1998 through currency speculation.

Mahathir said he sees little chance for a worldwide push toward "a more productive, compassionate and caring globalization," so he called on East Asia nations to cooperate more closely by creating stable monetary systems and currencies.

"Given the mountain of money and the power that comes out of the almighty dollar, is it any surprise that global capitalism is in charge of the 'Washington consensus,' of the IMF, of the World Bank, of the WTO, of the wealthiest and most powerful nations in the world?" Mahathir asked.

Despite his strong language to a roomful of some of the world's top capitalists, Mahathir insisted he did not oppose financial success.

"I have nothing against rich people, against very rich people or against people who used to be called the filthy rich," Mahathir said. "I hope there are many in this audience who fall into one of these categories."