What's it all about, APEC?
That's the question each time leaders from the Asia Pacific Economic Cooperation hold their annual summit.
Wags have mocked the summit as "four adjectives in search of a noun" or "aging politicians enjoying cocktails." Other critics call APEC ineffectual, or say its emphasis on pushing free trade comes at the expense of developing nations and the poor.
Officials of the 21-member forum insist the meeting is more than just a talk shop.
Still, this year's gathering in Busan was typical: It focused on how to respond to trouble within the WTO -- an issue that lies outside the confines of APEC and that the APEC summit covered five years ago.
After six days of preparatory meetings by senior officials, ministers, and leaders including US President George W. Bush and Chinese President Hu Jintao (胡錦濤), the summit on Saturday called for a breakthrough in the WTO's current global trade round, stalled over disputes about reducing farming subsidies, mostly in Europe.
But no one is certain that anyone outside APEC will listen -- even though the group's collective clout includes seven of the world's largest economies and almost half the world's trade.
Critics have long had a field day with the consensus-driven APEC, which was founded in 1989 to "further enhance economic growth and prosperity for the region and to strengthen the Asia-Pacific community." APEC operates on the principle of unanimous agreement, with all decisions and statements being ultimately nonbinding.
"We know that it's voluntary to be part of APEC but this voluntarism must show some results," said Julio Millan, chief executive of Mexican conglomerate Coraza Corp Azteca, who with other corporate leaders lobbies the forum through the APEC Business Advisory Council.
Defenders argue that APEC's uniqueness lies in being a forum for dialogue between government and business. It also provides a place for APEC leaders to speak with each other individually. Sideline meetings are such a mainstay of APEC summits that some fret they overshadow the larger agenda.
"I worry sometimes that the developed countries treat this as a bilateral meeting event," said Roberto Romulo, a former Philippine foreign secretary.
One thing APEC leaders agreed on in Busan: They'll gather again next year, in Hanoi, Vietnam.
Japanese Prime Minister Sanae Takaichi yesterday lavished US President Donald Trump with praise and vows of a “golden age” of ties on his visit to Tokyo, before inking a deal with Washington aimed at securing critical minerals. Takaichi — Japan’s first female prime minister — pulled out all the stops for Trump in her opening test on the international stage and even announced that she would nominate him for a Nobel Peace Prize, the White House said. Trump has become increasingly focused on the Nobel since his return to power in January and claims to have ended several conflicts around the world,
UKRAINE, NVIDIA: The US leader said the subject of Russia’s war had come up ‘very strongly,’ while Jenson Huang was hoping that the conversation was good Chinese President Xi Jinping (習近平) and US President Donald Trump had differing takes following their meeting in Busan, South Korea, yesterday. Xi said that the two sides should complete follow-up work as soon as possible to deliver tangible results that would provide “peace of mind” to China, the US and the rest of the world, while Trump hailed the “great success” of the talks. The two discussed trade, including a deal to reduce tariffs slapped on China for its role in the fentanyl trade, as well as cooperation in ending the war in Ukraine, among other issues, but they did not mention
REASSURANCE: The US said Taiwan’s interests would not be harmed during the talk and that it remains steadfast in its support for the nation, the foreign minister said US President Donald Trump on Friday said he would bring up Taiwan with Chinese President Xi Jinping (習近平) during a meeting on the sidelines of the APEC Summit in South Korea this week. “I will be talking about Taiwan [with Xi],” Trump told reporters before he departed for his trip to Asia, adding that he had “a lot of respect for Taiwan.” “We have a lot to talk about with President Xi, and he has a lot to talk about with us. I think we’ll have a good meeting,” Trump said. Taiwan has long been a contentious issue between the US and China.
GLOBAL PROJECT: Underseas cables ‘are the nervous system of democratic connectivity,’ which is under stress, Member of the European Parliament Rihards Kols said The government yesterday launched an initiative to promote global cooperation on improved security of undersea cables, following reported disruptions of such cables near Taiwan and around the world. The Management Initiative on International Undersea Cables aims to “bring together stakeholders, align standards, promote best practices and turn shared concerns into beneficial cooperation,” Minister of Foreign Affairs Lin Chia-lung (林佳龍) said at a seminar in Taipei. The project would be known as “RISK,” an acronym for risk mitigation, information sharing, systemic reform and knowledge building, he said at the seminar, titled “Taiwan-Europe Subsea Cable Security Cooperation Forum.” Taiwan sits at a vital junction on
RSS