APEC 2023: A Warm‑and‑Cool Summit That Missed the Mark
Picture this*: a sleek conference hall in Port Moresby, the APEC summit whirring with leadership from 21 economies. The room? Packed. The stakes? High. The outcome? None of the leaders could agree on a single communique. Yeah, that’s the headline.
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Why the Failure?
The problem wasn’t the tea. It was the text*.
China’s Critics
Top Chinese diplomat, State Councillor Wang Yi, slams the joint statement as a snag because
“Some economies insisted on bulldozing their own wording onto everyone else”
Calls this “excusing protectionism” and “unilateralism,” not to mention a slap in the face to consensus.
USA’s Deflection
Vice President Mike Pence walked into the summit with a “blaze of anger.”
The U.S. pressed hard on trade disputes— “we’re not backing down” — and even floated the idea of doubling tariffs if Beijing didn’t inch forward.
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Trade War Tango
It’s not just a diplomatic mismatch; it’s a stagflation waiting to happen.
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In a nutshell: The U.S. wants an equal‑played market in Beijing, while China wants its own set of rules on the table.
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Small Wins Amid the Chaos
Not every headline is a downer.
Disney’s Deal
“Unconditional approval” from China for its takeover of 20th‑Century Fox—a major win for the archivist, and a touchdown for U.S.-China business!
Global Stock Reaction
Markets dipped as the tension lingered, but the Disney boost could offset some stress in the long run.
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The G‑20 Hang‑Out
All eyes turn to Argentina next week.
Possible Ceasefire
President Xi and Trump (per US-China Business Council head Craig Allen) hint at a potential deal that could
“halt the new tariffs” and
“spark fresh negotiations.”
Reality Check
“It’s not a guaranteed slam dunk,” Allen cautions; the summit is still a high‑stakes boardroom jam.
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Bottom Line
Takeaway? The APEC handshake ended up a hand-over*. With protectionists spanning the table and the U.S. pushing hard for fairness, the communique simply didn’t land. Yet, strides—Disney’s fresh agreement, the prospect of trade talks—give a glimmer of hope that, just maybe, something will finally click in the coming G‑20.
Stay tuned for the next chapter in the China‑U.S. trade saga!
