US President Barack Obama on Sunday defended free trade as fellow Asia-Pacific leaders vowed to fight protectionism after US president-elect Donald Trump’s shock election victory sparked fears for the future of global commerce.
At the APEC gathering there was particular concern about the future of a major US-backed accord — the Trans-Pacific Partnership (TPP), which Trump has vowed to kill off — and that China was positioning itself to forge ahead with its own trade deals and fill a vacuum left by any US withdrawal.
However, after the summit closed on Sunday, Obama said that the 12-nation TPP, a key part of his much-vaunted “pivot” toward Asia, was far from dead and those involved still wanted to move forward with the US.
The president also insisted trade was positive as long as it was carried out in the right way and sought to answer rising concerns about globalization, conceding that “historic gains in prosperity” had not been evenly distributed.
Obama’s concerns about growing inequality were echoed by other leaders at the gathering, with Singaporean Prime Minister Lee Hsien Loong (李顯龍) saying steps must be taken to ensure that “no groups in society are left behind.”
APEC’s 21 members from either side of the Pacific offered their own staunch defense of free trade as the annual summit ended, pledging to “fight against all forms of protectionism.”
While Obama sought to be upbeat about the TPP’s prospects, some experts say Trump’s attacks on the agreement — which he called a “terrible deal” — and his Republican allies’ control of US Congress mean it is dead in the water.
Other observers have suggested that the real-estate mogul may seek to negotiate changes to the agreement once he takes office in January, and then claim a victory if a new version is passed.
A failure of the TPP would likely be welcomed by China, which was excluded from the deal and saw it as an attempt by the US to increase its clout in Beijing’s backyard.
Chinese President Xi Jinping (習近平) set himself up as the anti-Trump at this week’s summit, defending open markets and pushing two rival agreements — an APEC-wide deal and a 16-member accord that excludes the US.
SOUTH CHINA SEA
In related news, Philippine President Rodrigo Duterte has decided to declare a lagoon in China-controlled waters to be a marine sanctuary where Filipinos and Chinese will be prohibited from fishing, Phillipine officials said yesterday.
Duterte relayed his marine sanctuary plan to Xi during a meeting on the sidelines of the summit in Peru, Philippine National Security Adviser Hermogenes Esperon Jr said.
If Duterte’s plan proceeds, fishermen of any nationality would only be allowed in the deeper waters just outside the Scarborough Shoal (Huangyan Island, 黃岩島), but not its vast triangular-shaped lagoon naturally fenced by coral outcrops with an entryway watched by Chinese coast guard personnel.
Xi did not say whether he agreed to Duterte’s plan in the Scarborough Shoal, according to the statement from Esperon and other Philippine Cabinet officials present at the meeting.
Additional reporting by AP
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