South Korea inaugurates this Friday an annual summit of the Asia-Pacific Economic Cooperation Forum (APEC) in which Chinese President Xi Jinping is expected to play a leading role after the departure of his American counterpart, Donald Trump, the day before.
The meeting of Asia-Pacific leaders will run until Saturday in the southern city of Gyeongju, amid the member country’s ambition to foster a more connected and innovative community in the face of uncertainties in global trade.
Among those present at the meetings that start today, in addition to the host South Korean president, Lee Jae-myung, are Xi; the Prime Minister of Japan, Sanae Takaichi; the president of Chile and the only Latin American leader of the summit, Gabriel Boric, and his Filipino counterpart, Ferdinand Marcos Jr.; as well as the Canadian Prime Minister, Mark Carney.
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But beyond the summit, much of the attention is focused on the bilateral meetings between the leaders, and especially on what the Chinese president does. Xi is scheduled for a bilateral meeting with Lee this Friday, while an anticipated face-to-face meeting with Takaichi has not yet been confirmed by both sides.
The summit will take place in the absence of Trump, who left South Korea on Thursday after meeting with Xi and reaching a series of agreements that represent a certain de-escalation in the trade war between the powers, with tariff reductions, lifting of restrictions on exports and rapprochement on issues such as Ukraine.
Founded in 1989 with the aim of promoting trade integration, APEC brings together 21 territories in Asia and America bathed by the Pacific Ocean: Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Taiwan, Thailand, the United States and Vietnam.
The forum represents 60% of the world’s GDP, almost half of global trade and brings together 40% of the world’s population. Its partners are called “economies,” not countries, to allow the coexistence of delegates from China, Hong Kong and Taiwan, being one of the few meetings where representatives from China and Taiwan coincide, a self-governed island that Beijing considers a “rebellious province.”
With information from EFE.
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