At the 30th Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting in San Francisco, leaders charted a visionary path for the next three decades, branding them as the \"golden 30 years\" of prosperity and sustainable growth for the region.
Chinese President Xi Jinping outlined a transformative roadmap emphasizing innovation-driven progress, open economic policies, and environmentally sustainable development. He stressed the importance of fostering inclusive growth to benefit all segments of society. \"We, the leaders of Asia-Pacific economies, must think very hard as to what kind of Asia-Pacific region we should have by the middle of this century,\" Xi declared.
The vision extends beyond economic metrics, aiming for high-quality growth that promotes a cohesive Asia-Pacific community with a shared future. China envisions modernization benefits that are widely distributed, ensuring that progress is interconnected among nations in the region.
Since its inception in 1989, APEC has grown into a pivotal forum with 21 member economies representing approximately 2.95 billion people. In 2021, APEC accounted for about 62% of global GDP and 48% of world trade, underscoring its significant economic influence.
The adoption of the Golden Gate Declaration during the meeting reaffirmed APEC's commitment to a trade and investment environment characterized by freedom, openness, fairness, non-discrimination, transparency, inclusivity, and predictability.
However, achieving the promise of the next "golden 30 years" requires steadfast commitment to these principles. APEC economies face challenges such as rising anti-globalization sentiments, decoupling trends, geopolitical tensions, and climate change, which threaten regional industries and supply chains.
In response, APEC leaders called for unity and cooperation, rejecting divisive tactics and reaffirming their dedication to collective progress. Strengthening the rules-based trading system, anchored by the World Trade Organization, remains crucial for navigating the evolving economic landscape and ensuring sustained growth.
Reference(s):
cgtn.com
