Asia-Pacific leaders yesterday failed to bridge gaping divisions over trade at a summit dominated by a war of words between the US and China as they vie for regional influence.
For the first time in the group’s history, APEC leaders were unable to agree on a formal written declaration amid sharp differences between the world’s top two economies over the rules of global trade.
“You know the two big giants in the room. What can I say?” host and Papua New Guinean Prime Minister Peter O’Neill said, conceding defeat.
Photo: AFP
Canadian Prime Minister Justin Trudeau said the failure came down to “different visions on particular elements with regard to trade that prevented full consensus.”
A US official familiar with the talks said China balked at some language related to trade. At issue was a pledge by the governments to fight “all” unfair practices, which China objected to including in the statement, said the official, who asked not to be identified as the discussions were private.
The 20 other nations endorsed the language, the official said.
O’Neill indicated that the WTO had been a sticking point in agreeing on a joint communique.
“APEC has got no charter over the World Trade Organization. That is a fact,” he said. “Those matters can be raised at the World Trade Organization.”
O’Neill denied it was a humiliation for his country, which was hosting the annual gathering of the 21 nations for the first time. He said a formal APEC statement would be released at a later date.
As tensions boiled over, police were called when Chinese officials attempted to “barge” into the Papua New Guinean foreign minister’s office on Saturday in an 11th-hour bid to influence the summit’s communique, three sources with knowledge of the situation said.
“Police were posted outside the minister’s office after they tried to barge in,” one source said on condition of anonymity.
The minister had refused to meet with the delegates, another source said, adding: “It’s not appropriate for the minister to negotiate solo with the Chinese. The Chinese negotiating officials know this.”
The minister yesterday tried to downplay the incident, telling reporters “there wasn’t an issue.”
However, Chinese Ministry of Foreign Affairs official Wang Xiaolong (王小龍) denied the incident occured, telling reporters: “It’s not true. It’s simply not true.”
Even before the summit started, tensions between the two big hitters came to the fore with US Vice President Mike Pence and Chinese President Xi Jinping (習近平) crossing swords in competing speeches.
“I spoke to President Xi twice during the course of this conference. We had a candid conversation,” Pence told reporters yesterday.
He told him the US is interested in a better relationship with China, “but there has to be change” in Beijing’s trade policies.
With fears that a trade war between the two rivals could cripple the Pacific Rim economy, some attendees voiced concern about the growing rivalry for influence.
“Business leaders do not want to speak out, but behind the scenes here, they are talking over dinner saying: ‘How has this happened?’” Digicel chairman Denis O’Brien said. “It’s a very forced situation, one country is trying to force all the other countries to change tariffs agreed over years.”
Additional reporting by Bloomberg
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest foundry service provider, yesterday said that global semiconductor revenue is projected to hit US$1.5 trillion in 2030, after the figure exceeds US$1 trillion this year, as artificial intelligence (AI) demand boosts consumption of token and compute power. “We are still at the beginning of the AI revolution, but we already see a significant impact across the whole semiconductor ecosystem,” TSMC deputy cochief operating officer Kevin Zhang (張曉強) said at the company’s annual technology symposium in Hsinchu City. “It is fair to say that in the past decade, smartphones and other mobile devices were
US-CHINA SUMMIT: MOFA welcomed US reassurance of no change in its Taiwan policy; Trump said he did not comment when Xi talked of opposing independence US President Donald Trump yesterday said he has not made a decision on whether to move forward with a major arms package for Taiwan after hearing concerns about it from Chinese President Xi Jinping (習近平). Trump’s comments on Taiwan came as he flew back to Washington after wrapping up critical talks in which both leaders said important progress was made in stabilizing US-China relations even as deep differences persist between the world’s two biggest powers on Iran and Taiwan. “I will make a determination,” Trump said, adding: “I’ll be making decisions. But, you know, I think the last thing we need right
TAIWAN ISSUE: US treasury secretary Scott Bessent said on the first day of meetings that ‘it wouldn’t be a US-China summit without the Taiwan issue coming up’ There were no surprises on the first day of the summit between US President Donald Trump and Chinese President Xi Jinping (習近平), the Mainland Affairs Council (MAC) said yesterday, as the government reiterated that cross-strait stability is crucial to the Asia-Pacific region, as well as the world. As the two presidents met for a highly anticipated summit yesterday, Chinese state media reported that Xi warned Trump that missteps regarding Taiwan could push their two countries into “conflict.” Trump arrived in China with accolades for his host, calling Xi a “great leader” and “friend,” and extending an invitation to visit the White House
SECURITY: Taipei presses the US for arms supplies, saying the arms sales are not only a reflection of the US security commitment to Taiwan but also serve as a mutual deterrent against regional threats Taiwan is committed to preserving the cross-strait “status quo” and contributing to regional peace and stability, the Presidential Office said yesterday. “It is an undeniable fact that the Republic of China is a sovereign and independent democratic nation,” Presidential Office spokeswoman Karen Kuo (郭雅慧) reiterated, adding that Beijing has no right to claim sovereignty over Taiwan. The statements came after US President Donald Trump warned against Taiwanese independence. Trump wrapped up a state visit to Beijing on Friday, during which Chinese President Xi Jinping (習近平) had pressed him not to support Taiwan. Taiwan depends heavily on US security backing to deter China from carrying
RSS