Chinese President Xi Jinping has long advocated for a more open and inclusive Asia-Pacific, emphasizing the importance of deepening cooperation within the region.
With rising trade challenges and geopolitical uncertainties, Xi will join leaders from Asia-Pacific Economic Corridor (APEC) economies in South Korea in the coming days to foster consensus on shared prosperity and further reinforce China’s commitment to economic globalization.
The International Monetary Fund (IMF) has forecasted that Asia-Pacific economic growth will slow from 4.5% this year to 4.1% by 2026. This projection highlights the urgency for continued collaboration and for creating new avenues of growth amidst economic challenges.
As APEC leaders gather, Xi is expected to reiterate his long-standing vision of an open Asia-Pacific economy.
He believes the region remains a key driver for global economic growth. By 2025, APEC economies will account for over 60% of the global GDP, reinforcing their crucial role in advancing free trade.
Under Xi’s leadership, China has significantly strengthened its economic ties with APEC members, with 15 out of the 20 members now being free trade partners of China.
