The power dynamic in global trade was visibly shifting in South Korea this week, with China’s Xi Jinping emerging as the dominant figure at a major Pacific summit, a position made possible by the conspicuous absence of the US leader.
Thank you for reading this post, don't forget to subscribe!Leaders of Pacific nations and territories are gathered in Gyeongju for the annual Asia-Pacific Economic Cooperation (APEC) summit. However, President Donald Trump—whose trade policies cast a long shadow over the proceedings—flew out of South Korea on Thursday, moments after a landmark meeting with President Xi that offered a tentative de-escalation of the protracted trade conflict.
By choosing to skip the APEC event, which represents more than half of global trade, Trump ceded the spotlight to Xi. The Chinese leader immediately leveraged the moment, holding high-profile meetings, including with Japan’s new leader and Canada’s Prime Minister Mark Carney. The US presence at the discussions is limited to Treasury Secretary Scott Bessent.
A Call for Unity Against Protectionism
Despite Trump’s physical absence, his “America First” policies and punishing global tariffs were the unspoken focus of the two-day meeting.
In his opening address to the 21-economy grouping, President Xi called for global unity and cooperation, pushing back on the protectionist wave. “The world is undergoing rapid changes unseen in a century,” Xi told the forum. “The more turbulent the times are, the more we must stand together in solidarity.” He affirmed China’s commitment, stating, “China’s door to openness will not close; it will only open wider.”
South Korean President and APEC Chair Lee Jae Myung echoed the sentiment in his address, warning that the “free trade order undergoes dramatic changes,” causing global economic uncertainty to deepen. He stressed that “only cooperation and solidarity can surely lead us to a better future.”
While APEC decisions are non-binding, a major goal this year is to strengthen global supply chains and encourage multilateral cooperation to stabilize economies reeling from the US tariff offensive.
I’ve clarified the context, emphasized the contrast between the leaders, and used subheadings to organize the flow.
