CHINESE President Xi Jinping vowed to uphold global free trade and strengthen multilateral cooperation as he addressed Asia-Pacific leaders on Friday, asserting China’s leadership at a regional forum notably skipped by U.S. President Donald Trump.
AP reported today that Xi delivered his remarks at the opening of the Asia-Pacific Economic Cooperation (APEC) summit in the South Korean city of Gyeongju, one day after Trump departed the country following a high-profile meeting with Xi that produced a series of trade concessions aimed at easing years of escalating economic friction.
“The more turbulent the times, the more we must work together,” Xi told delegates. “The world is undergoing a period of rapid change, with the international situation becoming increasingly complex and volatile.”
Xi’s message, which defended multilateralism and called for stability in global supply chains, stood in contrast to Washington’s recent efforts to reduce trade reliance on China.
He urged regional partners to expand cooperation in green industries and clean energy, saying that China was ready to “share its progress in sustainable technologies for mutual benefit.”
This year’s two-day summit has been dominated by the Trump–Xi encounter, which briefly lifted global market sentiment after both sides agreed to scale back tariffs.
Trump announced plans to lower duties on Chinese imports, while Beijing pledged to resume purchases of American soybeans and allow rare earth exports.
However, Trump’s decision to skip APEC altogether underscored his administration’s scepticism towards multilateral frameworks, a stance that analysts say risks diminishing America’s influence in a forum representing nearly 40 per cent of the world’s population and more than half of global trade.
Xi’s appearance in South Korea marked his first visit to the country in more than a decade.
On the sidelines, he held talks with Japan’s newly appointed Prime Minister Sanae Takaichi, Canadian Prime Minister Mark Carney and Thailand’s Prime Minister Anutin Charnvirakul. A separate meeting with South Korean President Lee Jae Myung is scheduled for Saturday, with North Korea’s nuclear ambitions expected to top the agenda.
Representing Washington, U.S. Treasury Secretary Scott Bessent defended Trump’s trade approach, saying it sought “fair and reciprocal terms” and aimed to build “resilient production networks that reduce dependence on vulnerable sectors.”
Founded in 1989, APEC was conceived as a platform to promote free and open trade across the Asia-Pacific Rim. But its mission has become increasingly strained amid rising geopolitical rivalries, fragile supply chains, and the disruptive impact of artificial intelligence on regional labour markets.
Opening the summit, President Lee called for unity despite diverging national interests. “It’s obvious that we can’t always stand on the same side, as our national interests are at stake,” he said. “But we can join together for the ultimate goal of shared prosperity.”
Canadian leader Mark Carney, echoing concerns about shifting global dynamics, said his government would “double non-U.S. exports within the next decade,” describing the current era as “one of the most profound global transformations since the fall of the Berlin Wall.”
Analysts said the Trump–Xi meeting provided short-term relief to jittery markets but warned that long-term tensions between the two powers would persist.
“Worst-case outcomes for global trade were averted,” said Leif-Eric Easley, professor of international studies at Ewha Womans University in Seoul.
“However, APEC is meant to be more than a venue for a trade war truce. Greater multilateral efforts are needed to address protectionism, harmonise trade regulations and coordinate standards for digital innovation.”
As host, South Korea is pressing members to adopt a joint statement — something APEC failed to produce in 2018 due to U.S.-China discord. Foreign Minister Cho Hyun has cautioned that a unified declaration on free trade remains unlikely, though discussions are expected to focus on peace, prosperity, and the summit’s theme: “Building a Sustainable Tomorrow: Connect, Innovate, Prosper.”
Delegates are also due to explore shared strategies on managing artificial intelligence and demographic challenges, including ageing populations and low birth rates, as the Asia-Pacific region seeks new models for sustainable growth amid shifting global alliances. - October 31, 2025
