A guide briefs visitors at the Bulguksa where preparations are underway ahead of events for attendees of the APCE summits.
Chinese President Xi Jinping defended multilateralism and global cooperation at the Asia-Pacific Economic Cooperation (APEC) Summit on Friday, days after reaching a tentative trade truce with U.S. President Donald Trump. The summit, held in the South Korean city of Gyeongju, marked Xi’s first visit to South Korea in over a decade and positioned him at the center of global attention as Trump departed early after their high-stakes meeting.
Xi Calls for Global Unity Amid Uncertain Times
In his keynote speech, Xi Jinping urged world leaders to safeguard globalization and resist protectionism. “The more turbulent the times, the more we must work together,” he declared, stressing that the international landscape has grown increasingly complex and unpredictable.
Xi emphasized the need to maintain stable global supply chains, a direct response to the U.S.’s recent efforts to decouple from China. He also expressed China’s willingness to expand cooperation in clean energy and green technologies, though Beijing’s rapid growth in this sector has sparked criticism abroad.
Xi’s remarks underscored China’s ambition to present itself as a defender of free trade and multilateral cooperation, contrasting sharply with Trump’s “America First” approach.
Trade Deal Brings Temporary Relief
The Trump-Xi meeting earlier in the week resulted in modest breakthroughs. Trump announced plans to cut tariffs on Chinese imports, while Beijing agreed to resume purchases of American soybeans and ease export restrictions on rare earth materials.
The agreements brought a measure of relief to global markets, which had been rattled by the prolonged trade war between the world’s two largest economies. Analysts warned, however, that the truce may only offer temporary calm, as both nations continue to compete for dominance in technology and manufacturing.
“It’s a positive step,” said Leif-Eric Easley, professor of international studies at Ewha Womans University. “But APEC must go beyond being a stage for trade negotiations. It should focus on broader multilateral efforts to address challenges like protectionism and sustainable growth.”
APEC Faces Mounting Challenges
Founded in 1989, APEC represents over half of global trade and promotes open markets and regional integration. Yet the organization now faces headwinds — from economic rivalries and supply chain disruptions to aging populations and the rise of artificial intelligence.
Opening the summit, South Korean President Lee Jae Myung called for solidarity in confronting these challenges. “Our national interests may differ, but we share the goal of common prosperity,” he said, urging APEC members to pursue “candid and constructive discussions.”
Experts note that the region’s stability depends on cooperation, not confrontation. The recent trade thaw between Washington and Beijing has prevented worst-case economic scenarios, but tensions persist beneath the surface.
South Korea Pushes for Consensus
As host nation, South Korea has taken the lead in promoting a unified outcome from the summit. Officials are working to ensure that APEC members issue a joint statement — something that failed to happen in 2018 due to U.S.-China disputes.
Foreign Minister Cho Hyun admitted that a strong declaration on free trade may be unrealistic given diverging views. Instead, he expects a broader statement focused on peace, prosperity, and sustainable development.
Under the theme “Building a Sustainable Tomorrow: Connect, Innovate, Prosper,” this year’s APEC summit spotlights collaboration on artificial intelligence and demographic challenges. Members are expected to exchange ideas on managing aging populations, low birth rates, and the future of work in an AI-driven economy.
A Test for Multilateralism
Xi’s strong defense of multilateralism and his recent talks with Trump signal a cautious step toward stability in global trade. However, experts remain skeptical about how long this détente will last.
As APEC continues, the focus will be on whether the participating economies can overcome rivalries and reaffirm their commitment to free trade, cooperation, and innovation.
For now, Xi’s message is clear — in an era of uncertainty, China intends to lead the conversation on globalization and shared growth.
