"Taking center stage at the Asia-Pacific Economic Cooperation (APEC) leaders' summit in South Korea on Friday, Chinese President Xi Jinping called for protection of the multilateral trading system and deeper economic cooperation. "Changes unseen in a century are accelerating across the world," Xi told leaders assembled in the South Korean city of Gyeongju. "The rougher the seas, the more we must pull together," Xi said, seeking to present China as a defender of global free trade amid protectionist policies pushed by the US."
"Earlier this month, Xi threatened to choke off rare earth exports, which are a critical component of high-tech items like smartphones. In South Korea, however, Xi told the summit that countries should adhere to the principle of "extending, rather than breaking" supply chains. Many Asian countries remain skeptical of Xi's stated support for free trade, as China flexes its dominance in manufacturing and exports. Beijing also has a track record of using export controls and other tools in trade disputes."
"Xi invited Canadian Prime Minister Mark Carney to China after the leaders met at APEC, saying ties were heading "toward a trend of positive development." Despite tariff friction involving Chinese steel and Canadian canola oil, both countries have been heavily targeted by Trump's tariffs. The meeting at APEC amounts to the first formal talks between the leaders of China and Canada since 2017. "In recent years, we have not been as engaged," said Carney, while accepting the invitation."
Chinese President Xi Jinping called for protection of the multilateral trading system and deeper economic cooperation at the APEC leaders' summit in Gyeongju, warning that changes unseen in a century are accelerating globally. He urged nations to pull together and to extend, rather than break, supply chains. Xi has threatened controls on rare earth exports and faces skepticism as China uses export controls in disputes while dominating manufacturing. Xi invited Canadian Prime Minister Mark Carney to China and met Japan's Prime Minister Sanae Takaichi. US President Donald Trump left the summit early but met Xi to map a tariff truce.
Read at www.dw.com
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