The world is intently looking toward the summit between Chinese President Xi Jinping and President Donald Trump. This historic milestone will occur during this year’s Asia-Pacific Economic Cooperation (APEC) summit. Save the date for November 2023! This major annual gathering in San Francisco will address a wide range of emerging challenges to global governance and economic integration.
The meeting takes place amid escalating tensions between the two countries. Yet trade disputes, technological competition, and geopolitical rivalries have defined their relationship in recent years. The APEC summit provides an excellent opportunity for both leaders to interact in a one-on-one setting. This back and forth might bring a little more about friction that has plagued their short history.
One of the most important topics creating discussion though is the agenda itself, and more specifically, trade. Additionally, Xi and Trump are scheduled to negotiate tariffs, trade balances, and market access. These four building blocks would go a long way in laying a stronger and more inclusive economic landscape in the Asia-Pacific region. Besides security considerations, the leaders’ private meeting will probably be focused on improving bilateral trade ties, which has huge ramifications for global supply chains.
Furthermore, the meeting will discuss issues of technology and innovation, fields where both countries have made large investments. This quest for global technological supremacy lay behind or influenced countless policy decisions on both sides, Beijing and Washington. To that end, negotiations can best be centered around topics including cybersecurity, protection of intellectual property rights and cooperation in emerging technologies.
The APEC summit will draw world leaders from 21 different economies across the Asia-Pacific region. This event is such an important and unique space to foster that dialogue and collaboration. It is incredibly inspiring. The deal making and summitry between Xi and Trump will likely reverberate far outside of their respective countries, weighing on regional stability as well as economic dynamism.