South Korean President Lee Jae Myung has cautioned against what he described as a global surge in protectionism and urged a renewed commitment to international cooperation.
Lee’s speech on Wednesday at a business forum, part of this year’s Asia-Pacific Economic Cooperation meetings in the South Korean city of Gyeongju, came shortly before his planned bilateral summit with Trump.
Since its establishment in 1989, APEC has primarily served as a platform to promote free trade and multilateralism. But the atmosphere is markedly different at this year’s meetings, coming after Trump’s sweeping tariffs and other highly protectionist measures that have roiled global trade.
“At a time when protectionism and nationalism are on the rise and nations focus on their immediate survival, words like ‘cooperation,’ ‘coexistence’ and ‘inclusive growth’ may sound hollow. Yet, paradoxically, it is in times of crisis like this that APEC’s role as a platform for solidarity shines brighter,” Lee said.