Biden and Xi Jinping…a Chinese-American summit on the sidelines of the APEC Forum in San Francisco

The Chinese news agency “Xinhua” reported that the forum is being held this year under the slogan “Creating a resilient and sustainable future for all” and discusses issues of inflation, debt, climate change, geoeconomic dispersion, trade protectionism and geopolitical issues, and includes a group of political and business leaders from 21 countries representing nearly 40%. of the world’s population and nearly 50% of global trade.

The forum aims to promote free trade throughout the Asia-Pacific region, as it was established in 1989 in response to the increasing economic growth of the region, aiming to create new markets for agricultural products outside Europe, especially with the emergence of regional trade blocs in other parts of the world, such as the European Union and NAFTA. It also seeks To raise the standard of living and education by achieving balanced economic growth and sharing revenues among the countries of Asia and the Pacific, as the population of countries bordering the Pacific Ocean constitutes approximately 40% of the world’s population.

US Treasury Secretary Janet Yellen announced in a press conference following the conclusion of the APEC Finance Ministers’ Meeting that the recent interactions between the United States and China have pushed both sides on the right path and that responsible management of economic relations between the United States and China has been a major priority throughout her stay in the country. San Francisco…noting that it met with Chinese Vice Premier He Lifeng last week and held a “fruitful meeting” with the new Chinese Finance Minister Lan Fuang this week.

She said: “President Biden and I strongly believe in the importance of strengthening the values ​​we share with our allies and partners in the Asia-Pacific region and beyond, while we also seek to establish a healthy and stable economic relationship with China. We also hope to build on the foundation we have laid to further deepen communication, and to achieve stability in relations, “And to make progress on key issues.”

Yellen added: Cooperation among APEC economies is also the key to dealing with the challenges we all face, including the urgent threat posed by climate change, noting that APEC finance ministers spoke about the danger that the Israeli-Palestinian conflict poses to the global economic future. She said, “We do not actually see a major economic impact of what is happening so far, but we are concerned and believe that it is necessary that the conflict does not expand.”

The Chinese President’s participation in the APEC Forum comes at a time when Chinese-American relations stand at a critical crossroads and the entire world faces difficult political and economic conditions.

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