APEC Economic Leaders' Meeting 2025
The Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting took place in Gyeongju, South Korea, with key discussions surrounding global trade, economic cooperation, and regional challenges.
Key Participants and Developments
- Chinese President Xi Jinping emphasized China's commitment to defending global free trade amidst trade tensions with the U.S.
- U.S. President Donald Trump skipped the meeting, opting instead for bilateral negotiations with China that led to a temporary easing of their trade war.
- APEC represents nearly 40% of the world's population and over half of global goods trade, highlighting its significance.
Strategic Discussions
- Xi Jinping stressed the importance of maintaining supply chain stability and expanding cooperation in green industries and clean energy.
- The U.S. aims to rebalance trade relationships to ensure fair and reciprocal terms.
Challenges and Goals
- APEC faces challenges like U.S.-China strategic competition, supply chain vulnerabilities, and the impact of AI on jobs.
- South Korea, as host, focuses on AI cooperation and demographic challenges under the theme “Building a Sustainable Tomorrow: Connect, Innovate, Prosper.”
Additional Highlights
- Canadian Prime Minister Mark Carney plans to double non-U.S. exports within a decade amidst global economic shifts.
- Efforts to issue a joint statement endorsing free trade faced difficulties due to differing APEC member positions.
Overall, the summit aimed to foster economic cooperation, address shared challenges, and promote sustainable development amid a rapidly changing international economic environment.