LIMA, Peru — Representatives from 21 countries within the Pacific Rim gathered in Peru on Friday for the Asia-Pacific Economic Cooperation (APEC) forum, which marks the first global summit since the victory of U.S. President-elect Donald Trump, featuring a number of notable world leaders.
This annual event sees participation from nations that collectively represent nearly two-thirds of the global gross domestic product (GDP) and approximately half of worldwide trade, as per statements from the organizers. Confirmed participants in Lima include outgoing U.S. President Joe Biden, President Xi Jinping of China, Prime Minister Justin Trudeau of Canada, President Prabowo Subianto of Indonesia, Prime Minister Shigeru Ishiba of Japan, and Prime Minister Anthony Albanese of Australia, among others. These high-profile meetings come as many are curious about the potential shifts in global relations resulting from a new U.S. administration.
During the summit, leaders and their representatives are scheduled to engage in closed-door negotiations throughout the morning, followed by discussions in the afternoon with members of APEC’s Business Advisory Council. This council convened earlier on Wednesday, urging APEC countries to enhance inclusive growth and to pay particular attention to the requirements of micro-, small-, and medium-sized enterprises, especially those owned by women and Indigenous entrepreneurs.
Julia Torreblanca, chair of the advisory council, highlighted the challenges facing APEC nations, stating, “Although the global economy shows resilience, APEC economies are dealing with ongoing inflation, economic inequality, elevated interest rates, and an urgent need for investments geared towards a sustainable, climate-resilient future.”
This event is poised to be among Biden’s last appearances on the international stage before he exits office, with White House officials asserting that his presence, along with his upcoming trip to Brazil for the Group of 20 meetings, will deliver meaningful discussions centered around climate change, global infrastructure, and counter-narcotic initiatives. Biden is expected to hold a one-on-one meeting with Xi Jinping on Saturday, marking the first such encounter since last year’s APEC forum. Additionally, he will meet with South Korea’s Yoon Suk Yeol, Japan’s Shigeru Ishiba, and Dina Boluarte, the President of Peru.
Biden is also anticipated to urge allied nations to maintain their support for Ukraine as it continues to defend itself against Russian aggression while pushing for negotiations aimed at resolving ongoing conflicts in Israel, Lebanon, and Gaza.
However, many analysts believe Biden may find himself overshadowed by Xi, who arrived in Peru on Thursday and inaugurated a significant $1.3 billion megaport. This development could symbolize a shift in Latin America’s economic engagement, as the new Chancay port is expected to expedite shipping times to China by approximately ten days—something that comes in light of a two-decade surge in South American trade with China. Peru’s economy minister previously noted that neighboring countries are adjusting their supply chains to take advantage of the new port, which represents a total investment exceeding $3.5 billion.
Despite the inauguration ceremony taking place at the port, approximately 60 kilometers (37 miles) from Lima, local residents expressed that the economic benefits have been minimal. In fact, many voiced their concerns that the port’s development has negatively impacted their fishing activities, thereby threatening their livelihoods.
Tensions have also been evident in the middle-class San Borja district near Lima’s Convention Center, where the APEC meeting is held. Metal barricades and law enforcement clad in riot gear have formed a perimeter around the area, where anti-government protesters have been vocalizing their frustrations over a recent surge in gang-related violence. Demonstrators have been calling on their widely unpopular president to take decisive action against the crime wave.
Recent protests have escalated into confrontations with police, who resorted to using batons on Thursday in attempts to disperse the more aggressive dissenters.