APEC summit wraps up in Peru with focus on trade and regional cooperation
The Asia-Pacific Economic Cooperation (APEC) forum concluded in Lima, Peru, after two days of discussions among leaders from 21 Pacific economies, including U.S. President Joe Biden and Chinese President Xi Jinping. The meetings focused on trade and globalization but lacked significant breakthroughs. President Xi emphasized the importance of free trade and criticized protectionism during the summit. He inaugurated a $1.3 billion megaport in Peru, aiming to enhance trade in South America. Biden's participation was marked by a late arrival to the group photo, highlighting the shifting political landscape. As Biden prepares to leave office, he expressed concerns about North Korea's ties with Russia and sought to strengthen alliances. In their final meeting, both leaders aimed to maintain communication amid uncertainties surrounding the incoming Trump administration.