At the 30th Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting in San Francisco, Chinese President Xi Jinping unveiled a visionary roadmap for the Asia-Pacific region, heralding the commencement of what he termed the “golden 30 years.”
President Xi emphasized the need for innovation-driven development, openness, and environmental sustainability, urging leaders to contemplate the future of the region by mid-century. “We, the leaders of Asia-Pacific economies, must think very hard as to what kind of Asia-Pacific region we should have by the middle of this century,” he stated, “what we should do to usher in another ‘golden 30 years’ for the region, and how we can bring out the best of APEC in this process.”
His call to action centers on achieving high-quality growth that benefits all sectors of society, moving beyond mere economic indicators to focus on the broader societal impact of development. China envisions a shared destiny for the Asia-Pacific, where modernization dividends are widely distributed, fostering a cohesive community with a shared future.
Since its inception in 1989, APEC has played a pivotal role in driving economic growth in the region. With 21 member economies representing approximately 2.95 billion people, APEC accounts for about 62 percent of global GDP and 48 percent of world trade as of 2021.
During the two-day meeting, the adoption of the Golden Gate Declaration reinforced the commitment of APEC economies to promote a free, open, fair, non-discriminatory, transparent, inclusive, and predictable trade and investment environment.
However, realizing the vision of the next “golden 30 years” requires unwavering dedication to these principles. It demands a collective embrace of cooperative relations and a steadfast rejection of divisive practices among regional economies.
APEC’s longstanding support for a rules-based trading system, anchored by the World Trade Organization, has been instrumental in the region’s economic success. Strengthening this consensus is essential to navigate the complexities of today’s global challenges.
The Asia-Pacific region faces significant hurdles, including anti-globalization sentiments, threats of “decoupling,” development imbalances, and the dangers posed by geopolitical tensions and climate change. These challenges jeopardize industries and supply chains across the region.
Efforts to manipulate international norms, unravel economic ties, and escalate conflicts for narrow interests stand in stark contrast to the collective pursuit of shared development and deeper integration. In the face of these obstacles, APEC economies must unite, leveraging their collective achievements to steer towards common progress and avoid divisive paths.
