Xi Jinping Champions Globalization at APEC as Trump Skips Summit

Picture Credit: Bloomberg

Chinese President Xi Jinping called for stronger global cooperation and multilateralism at the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, South Korea, as U.S. President Donald Trump skipped the meeting after securing limited trade deals with Beijing. Xi’s message — to defend globalisation and free trade — underscored China’s growing role in shaping the global economic order amid escalating U.S.-China tensions.

“The more turbulent the times, the more we must work together,” Xi said during the opening session, warning against protectionism and supply chain decoupling. He emphasised cooperation in green industries and clean energy, despite criticism that China’s surge in exports of solar panels and electric vehicles has created market imbalances abroad.

Xi’s participation contrasted sharply with Trump’s early departure, which many analysts saw as a symbolic retreat from multilateral diplomacy. The U.S. president, known for favouring one-on-one negotiations, described his meeting with Xi as a success, highlighting China’s pledge to import U.S. soybeans and ease restrictions on rare earth exports. However, Trump’s absence from APEC — a forum representing over half of global trade — left Xi as the dominant figure in discussions on free trade and economic stability.

On the sidelines, Xi met Japanese Prime Minister Sanae Takaichi for the first time, signalling an attempt to stabilise ties strained by historical disputes. Both leaders agreed to “advance relations on the right track,” a move observers say could reset diplomatic tone in East Asia. Xi also held talks with Canadian Prime Minister Mark Carney, marking the first formal dialogue between the two nations since 2017, with both sides expressing interest in constructive and pragmatic engagement.

As APEC leaders discussed trade, technology, and demographic challenges, questions loomed over the forum’s future amid deepening U.S.-China rivalry. South Korea, the host nation, pushed for a joint statement promoting free trade, though officials admitted that divisions among members could result in a watered-down agreement. For now, Xi’s assertive diplomacy at APEC reinforced China’s position as a leading voice for economic globalisation, even as the U.S. continues to retreat from multilateral engagement.