U.S. - APEC Summit: Analysis & Assessment

APEC is an inter-governmental forum of 21 emerging economies founded in 1989 at the time of the Senior Bush Administration. It is the United States' third time hosting the meeting after Blake Island and Honolulu.

APEC has three pillars of strategy: Trade and Investment Liberalization, Business facilitation, and Economic and Technical Cooperation to promote economic growth, prosperity, and sustainability. This year's theme was------Creating a Resilient and Sustainable Future for All.

The forum aims to collaborate on trade and investment to promote economic growth, prosperity, and sustainable development through its three pillars strategy: Trade and Investment Liberalization, Business facilitation, and Economic and Technical Cooperation.

The APEC leaders adopted the Golden Gate Declaration, and the document with Putrajaya Vision 2040 would guide the forum and present the plan of action to an open, dynamic, resilient, and peaceful Asia-Pacific community by 2040.

The Indo-Pacific Economic Framework (IPEF) meeting was held with 14 member countries. The negotiations have reached a significant conclusion on three pillars: Clean Economy, Fair Economy, and Supply Chain. Unfortunately, there has been no progress on the trade Pillar.

Notably, the meeting between Biden and Xi at the Summit was crucial for the future of US-China relations. The discussions held by the two leaders will undoubtedly significantly impact the course of this relationship.

The key questions discussed in the session included:
What is the effectiveness of a framework that is not legally binding?
Why is India's membership to the forum essential, and what does India need to do to reform the rules and regulations on trade and investment?
The APEC forum has been in existence for over 30 years, and does it remain relevant today?
What can we expect from the recent meeting between Biden and Xi, and what might it mean for the future relationship between these two superpowers?