APEC China's role to revitalize Asia-Pacific economy
The Asia-Pacific Economic Cooperation (APEC) summit in Shenzhen, China, scheduled for Nov. 18-19, should serve as an event to revive the Asia-Pacific's economic dynamism and unlock the region's enormous potential. In the artificial intelligence (AI) era, regional economic security and supply-chain resilience will help determine global prosperity. High tariffs and technological rivalry make…
The upcoming Asia-Pacific Economic Cooperation (APEC) summit in Shenzhen, China, from November 18-19, is intended to reignite the region's economic vigor and tap into its vast potential. In the era of artificial intelligence, regional economic stability and robust supply chains will be crucial in determining global prosperity. Factors such as high tariffs and intense technological competition underscore the necessity for enhanced cooperation.
Korea is expected to build upon the successes of APEC Gyeongju as it prepares to host the 2027 chairmanship, which will be held in Vietnam.
In 2024, APEC's 21 member economies contributed roughly 61% of the global gross domestic product, 46% of trade in goods and commercial services, and 37% of the world's population, accounting for nearly 3 billion people. These economies boast diverse strengths, including technology, finance, manufacturing, consumer markets, and natural resources.
The advent of artificial intelligence, robotics, clean energy, and digital services presents significant growth opportunities, which hinge on the reliability of semiconductor supplies, computing power, minerals, and electricity.
To bolster this resilience and broaden market access for smaller players, it is imperative to diversify sourcing and establish predictable policies.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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