The APEC summit in Peru concluded with leaders discussing global trade amid U.S.-China tensions, highlighting President Xi’s position on globalization against the backdrop of President Biden’s imminent exit from the global stage and Donald Trump’s protectionist agenda.
The recent Asia-Pacific Economic Cooperation (APEC) summit concluded in Lima, Peru, featuring significant participation from global leaders, including President Joe Biden of the United States and President Xi Jinping of China. Over two days, discussions concerning robust economic engagement highlighted existing trade tensions and protectionist sentiments, particularly with the backdrop of President Biden’s final APEC summit amid uncertainties surrounding President-elect Donald Trump’s administration. The conference unfolded with a spirit of cooperation, yet many observers remain skeptical regarding the sustainability of this rhetoric in the face of escalating U.S.-China dynamics. President Xi notably emphasized globalization and inaugurated a notable infrastructure project, positioning himself at the forefront of diplomatic discussions.
The APEC forum serves as a critical platform for dialogue among 21 Asia-Pacific economies, aiming to promote free trade and economic cooperation across the region. This year’s summit was particularly significant as it took place during a transitional period in U.S. leadership, with the outgoing Biden administration grappling with China’s rising influence and the impending shift in U.S. foreign policy under President Trump. The backdrop of the summit included heightened trade tensions and discussions on economic security, which are critical to regional stability and cooperation.
In summary, the APEC summit in Peru underscored the fragile balance between collaboration and competition among major Pacific economies, particularly between the United States and China. President Xi’s emphasis on globalization contrasted sharply with the protectionist sentiments favored by President Trump, suggesting a challenging path forward for international trade relations. The event’s outcomes remain uncertain as global leaders navigate the evolving geopolitical landscape.
Original Source: www.livemint.com
