As U.S. President Donald Trump’s Air Force One departed South Korea, Chinese President Xi Jinping arrived at the Asia-Pacific Economic Cooperation (APEC) summit in South Korea’s Gyeongju a contrast that underscored shifting global economic dynamics. While Trump concluded a brief 24-hour visit, Xi embraced a stage of multilateral diplomacy, signalling Beijing’s growing leadership in regional trade.
Multilateralism vs. ‘America First’
Xi used his speech at APEC to champion “true multilateralism” and strengthen the World Trade Organization, presenting China as a stable defender of open trade in contrast to Washington’s rising protectionism.
Trump’s absence from APEC marks a sharp departure from U.S. engagement in the forum it co-founded in 1989. His administration’s sweeping tariffs and preference for bilateral deals have unsettled Asian economies, many of which depend heavily on U.S. markets.
China’s Expanding Role
While the U.S. limited its APEC presence to Treasury Secretary Scott Bessent and other senior officials, Xi leveraged the event to reinforce Beijing’s diplomatic standing. China has already deepened ties through an upgraded free trade agreement with ASEAN and continues to push for supply chain integration under its long-term economic strategy.
Analysts say this approach positions Beijing as the region’s “indispensable” economic partner, even as concerns persist about China’s dominance and its willingness to use trade as leverage.
Regional Reactions and Concerns
Despite China’s outreach, scepticism remains. Japan’s foreign ministry accused Beijing of using trade power for political gain, citing its recent curbs on rare earth exports. Regional leaders, including Japan’s new Prime Minister Sanae Takaichi and Canada’s Mark Carney, are expected to hold difficult talks with Xi amid ongoing disputes.
Why It Matters
Xi’s assertive diplomacy comes as Trump’s focus on tariffs and domestic optics such as hosting the White House Halloween event hours after his return signals waning U.S. engagement in Asia’s multilateral scene. The contrast between Xi’s steady presence and Trump’s transactional approach may reshape perceptions of leadership in the Indo-Pacific.
Implications
Beijing’s proactive diplomacy at APEC could accelerate the erosion of U.S. influence in Asia-Pacific economic governance. With many regional economies still reeling from tariffs and geopolitical uncertainty, China’s promise of “predictable multilateralism” offers short-term stability but at the cost of deeper dependency on Beijing.
If the U.S. continues to retreat from collective institutions, APEC and similar forums may gradually align more with China’s preferences, potentially redrawing the rules of regional trade and technology cooperation.
Analysis
Trump’s absence from APEC was more than symbolic it exposed a widening vacuum in U.S. strategic diplomacy. Xi’s ability to fill that space with messages of stability and inclusion reflects how China is adapting to the new era of fractured globalization.
However, China’s version of “multilateralism” remains state-centric and interest-driven. While it appeals to developing nations frustrated by U.S. unpredictability, it also risks institutionalizing economic dependence on Beijing.
In essence, APEC 2025 highlighted two competing visions for global order: an American model focused on sovereignty and leverage, and a Chinese one seeking integration on Beijing’s terms. The choice facing Asia is not simply between Washington and Beijing but between two very different futures for the global economy.
With information from Reuters.
