Chinese President Xi Jinping personally brokered valuable diplomatic talks between leaders at the Asia-Pacific Economic Cooperation (APEC) summit in South Korea. This event created a shockwave felt around the world, shaking the foundations of international relations. What makes this summit unique are Xi’s bilaterals with multiple leaders. Among them Canadian Prime Minister Mark Carney and South Korean President Lee Jae Myung, all unfolding against the backdrop of the changing global order.
In his opening remarks at the APEC Asia-Pacific Economic Cooperation Leaders Forum, Xi called attention to the unprecedented changes taking place around the world. He stated, “The world is undergoing rapid changes unseen in a century,” pointing to the complexities facing the global economy. His communication further emphasized the importance of coming together at this urgent hour as 21 Pacific region economies. It highlighted a clear dedication to collaboration and creative problem solving in these challenging times.
That’s why Xi’s discussion with Prime Minister Carney are so important. They appear to signal a new low tide in the otherwise stormy trade waters of the China-Canada relationship. The two leaders committed to sending a clear message to their officials to speed up the resolution of outstanding trade issues. With some speculation, this move has been seen as a gesture to de-escalate the protracted trade wars that defined the last few years.
“This meeting marks a turning point in our relationship.” – Mark Carney’s office
In his comments, Xi assured that “China’s door to openness will not close; it will only open wider,” reinforcing his administration’s stance on fostering international economic ties. This declaration aligns with Carney’s sentiment regarding the evolving trade landscape, where he noted, “That old world… of steady expansion of liberalized trade and investment… that world is gone.”
On the sidelines of the summit, Xi held a trilateral meeting with South Korea’s President Lee Jae Myung. This was their first in-person meeting at a summit. Both leaders recognized the critical nature of their discussions, with Lee asserting that “we are standing at a critical inflection point with a rapidly changing global economic order.” They expressed worry about increasing global economic instability and waning momentum in trade and investment.
“Only cooperation and solidarity can surely lead us to a better future.” – Lee Jae Myung
Beyond these trilateral meetings, Xi met with Japan’s Minister of Economic Security Takaichi Sanae in Gyeongju. The talks between Xi and Takaichi, who has previously criticized China’s military assertiveness, yielded an agreement to establish a “strategic mutually beneficial relationship.” Such a large investment is a sign of good faith from both parties to repair relations in the shadow of China’s encroachment.
“I aim to maintain communication with you and therefore jointly promote the development of China-Japan relations along the right track.” – Xi Jinping
During these days of the summit, Xi fervently called for collaboration. His vision was shared by other leaders as they addressed challenges such as trade deficits and regional security. He reiterated that “the more turbulent the times are, the more we must stand together in solidarity,” advocating for collective action in response to global challenges.
This shifting geopolitical reality was plain to see in the summit’s dramatic backdrop. Among these leaders, there was an understanding that the conventional models of economic engagement are under immense stress. Lee expressed concerns over the impact of these shifts on free trade and investment flows, echoing sentiments shared by other attendees.
As Xi Jinping concludes his visit to the APEC summit, he looks to tighten more bilateral relations. His diplomatic efforts are tackling the tough challenges associated with worldwide economic instability. With these meetings, China is signaling its determination to reassert itself as a constructive force engaging with its neighbors and key international partners.
