The Asia-Pacific Economic Cooperation (APEC) 2024 Summit was held on November 16, 2024 in Lima, Peru, and ended with decisions focused on economic inclusion, sustainability and digital transformation. Chinese President Xi Jinping was also present at the summit, along with many other leaders and heads of state. Unlike other participants, China made a strong entrance to the summit with a red carpet welcome and played an active role throughout the summit.[1]
In his speech at the summit, Xi stated that the world is entering a period of turbulent transformation and in response to recent criticism that China’s growth rate is slowing down expressed his confidence that China will achieve its economic growth targets, while also noting that the stability of global supply chains must be maintained.[2] Calling for increased solidarity and cooperation despite the current developments in the Asia-Pacific, China emerged as a leading actor at the summit in line with its discourses on economic growth, digital transformation, sustainability and bilateral relations. It can be said that its strategic economic leadership, strong bilateral relations and initiatives in the field of environmental sustainability enabled it to play an effective role at the summit.
China’s economic strategies have played a central role in APEC’s trade and investment agenda. China’s contributions to the APEC agenda in this regard are aimed at ensuring that the Asia-Pacific remains an attractive region for trade and investment. China supports APEC’s goals of creating a free, open and relatively inclusive trading environment, and in the same line, China has announced that it will continue to support the World Trade Organization’s multilateral trading system.[3] In this context, it can be observed that there is a concerted effort to take the lead, particularly in increasing the resilience of supply chains and promoting the digitalization of trade.
China’s activity in this regard can be seen as a reflection of its efforts to consolidate its economic leadership in the Asia-Pacific region. Advocating the removal of barriers to international trade, China has deepened its economic ties with Latin America and developed policies in line with the Belt and Road Initiative. The progress made in regional integration and logistics infrastructure through various projects in Peru prior to the summit were factors that strengthened Xi’s presence at the summit.
China has strengthened its bilateral relations with many countries in the region, especially Peru, which hosted the summit, and supported these relations with infrastructure projects and economic cooperation agreements. In the most recent example, large-scale infrastructure projects in Peru have demonstrated that China is making concrete contributions to APEC’s inclusive growth goals. In particular, initiatives such as the development of the Chancay Port have increased China’s economic influence in the region.
In addition to its economic impact, it can be observed that China’s diplomatic approach stands out as an example of leadership that encourages cooperation among APEC members. China’s adoption of a harmonized cooperation model with both developed and developing countries within the APEC framework has been a factor advancing regional integration goals. As a result, China has adopted a policy that has strengthened its position as not only an economic but also a diplomatic leader. China’s encouragement of multilateral participation in trade negotiations has also been more decisive and result-oriented compared to the other economies in the region.
One of China’s most talked about and most effective moves in recent times has been its breakthroughs in the field of environment and green energy. This issue was also the topic of the summit. The summit provided an important platform where sustainable development and environment-oriented policies were discussed. China has demonstrated its leadership in this area with its statements on clean energy and low carbon incentives. China’s policies in this context set an example for both developing countries and large economies.
An important element of China’s influence at the 2024 APEC Summit has been its digital transformation leadership. China aimed to accelerate economic development by taking a leading role, particularly in digital inclusion and technological innovation. While efforts to strengthen digital infrastructure in developing countries have increased regional solidarity, China’s technology-oriented policies have again set an example for other countries in the transition to a digital economy. In his speech at the summit, Xi Jinping announced the launch of the “Global Cross-Border Data Flow Cooperation Initiative” and called for stronger cooperation to promote secure data flow.[4]
With its “Global Initiative on Data Security” announced in 2020, China has proposed inclusive approaches to global data governance instead of digital hegemony initiatives that prioritize countries’ self-interests. These steps reflected China’s effort to protect data security and take a proactive role in setting international data governance rules, while taking a stance against US digital supremacy strategies (such as the Cross-Border Privacy Rules system, which China was not included in). In this respect, it is possible to argue that China continues to show leadership with a new initiative in the field of data security, both to ensure its own digital development and to shape global data protection standards.
China’s involvement in the APEC 2024 Summit was also noteworthy in the context of the global balance of power. Some media reports suggested that Xi’s presence at APEC overshadowed US President Biden[5] The comparison that Xi was welcomed with a red carpet while Biden was not given such a special welcome, and the fact that China has filled the void left by the fact that Biden did not pay as much attention to Latin America as other regions during his presidency, can be interpreted as factors that strengthen these statements. From Xi’s visit to Lima to the G20 summit in Rio de Janeiro, China’s economic diplomacy is expected to be supported by concrete cooperation and agreements, while the US is not expected to catch up with China in terms of economic steps in this critical process.[6] This can be characterized as a factor that will strengthen China’s presence in the region after the summit.
China has taken steps to consolidate its leadership in the future as an actor promoting APEC’s core values. When China hosted APEC, first in 2001 and then again in 2014, it was in a very different situation, and considering this year’s summit, it can be said that each summit has witnessed a much stronger China. Speaking at the 31st APEC Economic Leaders’ Meeting in Lima, the capital of Peru, Xi announced that China will host APEC leaders in 2026.[7] Xi announced that he looks forward to working with all parties to deepen Asia-Pacific cooperation for the benefit of the people of the region,[8] signaling that he is preparing to host the APEC Summit again with an important mission. This mission is to bring Asia-Pacific countries together to advocate for open economic and trade cooperation while rejecting protectionist and confrontational trade tactics.
In conclusion, the 2024 APEC Summit provided an opportunity for China to showcase its economic leadership, advance its environmental sustainability policies and set an example in digital transformation. With its trade, technology and environment-oriented policies, China has increased its influence not only in the Asia-Pacific region but also on the global economic order. Its diplomatic capabilities and effectiveness in multilateral cooperation mechanisms enabled China to demonstrate strong leadership at the APEC Summit. These achievements demonstrate China’s commitment to achieving its long-term global goals and its potential to enhance regional cooperation, while consolidating its position as a leading actor in economic growth, inclusiveness and sustainability, in line with APEC’s goals.
[1] “China’s XI takes spotlight in APEC family photo, with Biden off to the side”, The Straits Times, https://www.straitstimes.com/world/chinas-xi-takes-spotlight-in-apec-family-photo-with-biden-off-to-side, (Date of Access: 19.11.2024).
[2] “Full text: Address by Chinese president Xi Jinping at 31st APEC economic leaders’ meeting”, Xinhua, https://english.news.cn/20241117/3dda4fd4093d45c08520e9d6a3cc237c/c.html, (Date of Access: 19.11.2024).
[3] “China to host 2026 APEC summit, championing asia-pacific cooperation”, Xinhua, https://english.news.cn/20241117/17dcae4c47a248e5b8f611932d189a76/c.html, (Date of Access: 19.11.2024).
[4] “Full text: Address by Chinese president Xi Jinping at 31st APEC economic leaders’ meeting”, Xinhua, https://english.news.cn/20241117/3dda4fd4093d45c08520e9d6a3cc237c/c.html, (Date of Access: 19.11.2024).
[5] Cassinelli, M., & Costello, C. As Biden bids farewell, Xi advances China’s influence in Latin America at the APEC Summit in Peru. Atlantic Council. https://www.atlanticcouncil.org/blogs/new-atlanticist/biden-xi-at-the-apec-summit-in-peru/, (Date of Access: 19.11.2024).
[6] Ibid.
[7]“China to host 2026 APEC summit, championing asia-pacific cooperation”, Xinhua, https://english.news.cn/20241117/17dcae4c47a248e5b8f611932d189a76/c.html, (Date of Access: 19.11.2024).
[8] “Full text: Address by Chinese president Xi Jinping at 31st APEC economic leaders’ meeting”, Xinhua, https://english.news.cn/20241117/3dda4fd4093d45c08520e9d6a3cc237c/c.html, (Date of Access: 19.11.2024).
