APEC Summit in Peru Concludes with China's President Xi Jinping at the Forefront

The Asia-Pacific Economic Cooperation (APEC) forum concluded in Lima after two days of discussions among the region's major economies. The meeting ended with a sense of calm, which some fear might not be seen again for another four years. Leaders from 21 Pacific-bordering economies, including US President Joe Biden and Chinese President Xi Jinping, participated in the summit.

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As the summit unfolded, US President Joe Biden arrived late for the traditional APEC family photo. This delay led to an awkward moment as leaders waited on stage. Once he appeared, Biden took his place at the back, standing between Thailand's Prime Minister Paetongtarn Shinawatra and Vietnam's President Luong Cuong. As they left the stage, Biden briefly held Shinawatra's hand for support.

Globalisation Focus

Chinese President Xi Jinping took a prominent position next to Peru's President Dina Boluarte during the summit. Xi promoted globalisation by inaugurating a USD 1.3 billion megaport in Peru, which is set to become South America's largest shipping hub. In his address, delivered by a minister, Xi urged APEC members to dismantle trade barriers and criticised tariffs as regressive.

During the summit, leaders donned bark-coloured wool scarves from Peru for the annual photo-op, following APEC tradition. While leaders are usually arranged alphabetically for these photos, this year's arrangement varied. Reporters questioned Biden about his feelings on attending his last APEC summit as president.

Diplomatic Efforts

Biden aimed to conclude his political career with significant diplomatic achievements at APEC and the upcoming Group of 20 summit in Rio de Janeiro. However, with recent electoral setbacks and uncertain US-China relations, his accomplishments in Lima were limited. He sought to strengthen alliances that might be challenged by the incoming Trump administration.

Biden expressed concerns about North Korea and Russia's cooperation to South Korea and Japan's leaders. Later, Biden and Xi met for their final discussion during Biden's presidency. Xi expressed China's willingness to work with the new US administration to maintain communication. Biden emphasised that such talks help prevent competition from escalating into conflict.

The APEC forum highlighted ongoing global economic challenges and shifting political dynamics. Leaders focused on maintaining open trade and fostering international cooperation amidst uncertainties surrounding future leadership changes in key countries.