APEC Leaders Gather in Lima Amid Global Economic Changes

World leaders gather in Lima for the APEC summit, discussing economic cooperation amid global challenges. President Biden to address key issues like inflation and sustainable investments.


APEC Leaders Gather in Lima Amid Global Economic Changes

Representatives of 21 partners that make up the Pacific Basin gather in Peru at the Asia-Pacific Economic Cooperation (APEC) forum, the first global summit since the election victory of the United States' president-elect, Donald Trump, attended by several of the world's leading leaders. Among the confirmed heads of government for the forum in Lima are the outgoing president of the United States, Joe Biden; the president of China, Xi Jinping; the Prime Minister of Canada, Justin Trudeau; the president of Indonesia, Prabowo Subianto; the Prime Minister of Japan, Shigeru Ishiba, and that of Australia, Anthony Albanese.

The leaders and other representatives will hold closed-door discussions in the morning among themselves and in the afternoon with members of APEC's business advisory council. The annual meeting brings together countries and members that collectively represent nearly two-thirds of the global GDP and half of world trade, according to organizers.

President Xi inaugurated a $1.3 billion megaport in Chancay, which will reduce shipments to China by 10 days and demonstrates the ongoing reorientation in Latin America. Biden is expected to urge allies to maintain support for Ukraine and seek an end to the wars in Israel. APEC is set to be one of the last forums attended by Biden before leaving office. His focus will be on climate issues, global infrastructure, and the fight against drug trafficking.

Officials say Biden will meet in person with Xi on Saturday against the backdrop of anti-government protests in Lima against the recent wave of violence driven by gangs. The protesters are demanding action from their unpopular president. The protests have led to clashes with police, who have used batons to disperse the more aggressive demonstrators.