GYEONGJU, South Korea (AP) \u2014 Chinese leader Xi Jinping told Asia-Pacific leaders on Friday that his country would help to defend global free trade at an annual economic regional forum snubbed by U.S. President Donald Trump.<\/p>\n
Xi took center stage at the Asia-Pacific Economic Cooperation summit<\/a> that began Friday in the South Korean city of Gyeongju, as Trump left the country a day earlier after reaching deals with Xi meant to ease their escalating trade war<\/a>.<\/p>\n This year\u2019s two-day APEC summit has been heavily overshadowed by the Trump-Xi meeting that was arranged on the sidelines. <\/p>\n Trump described his Thursday meeting with Xi as a roaring success, saying he would cut tariffs on China, while Beijing had agreed to allow the export of rare earth elements and start buying American soybeans. Their deals<\/a> were a relief to a world economy rattled by trade tensions between the world\u2019s two largest economies.<\/p>\n Trump\u2019s decision to skip APEC fits with his well-known disdain for big, multi-nation forums that have been traditionally used to address global problems. But his blunt dismissal of APEC risks worsening America\u2019s reputation<\/a> at a forum that represents nearly 40% of the world\u2019s population and more than half of global goods trade. <\/p>\n Xi defends multilateralism <\/p>\n \u201cThe more turbulent the times, the more we must work together,\u201d Xi said during APEC\u2019s opening session. \u201cThe world is undergoing a period of rapid change, with the international situation becoming increasingly complex and volatile.\u201d<\/p>\n Xi called for maintaining supply chain stability, in a riposte to U.S. efforts to decouple its supply chains from China. He also expressed hopes to work with other countries to expand cooperation in green industries and clean energy. <\/p>\n In written remarks sent to a CEO summit held in conjunction with APEC, Xi said China was open for investment and would uphold the multilateral trading system.<\/p>\n \u201cFacts have proven that whoever gains a foothold in the Chinese market will be able to seize the critical opportunity in increasingly fierce international competition,\u201d Xi wrote. \u201cInvesting in China is investing in the future.\u201d<\/p>\n U.S. Secretary of the Treasury Scott Bessent, who attended the summit on Trump\u2019s behalf, said a U.S. move to rebalance its trade relationships would ensure that \u201ceach country operates on fair and reciprocal terms.\u201d He added that the U.S. is \u201cinvesting with its trading partners to build resilient production networks that reduce dependence on vulnerable sectors.\u201d<\/p>\n Xi met other leaders on the sidelines <\/p>\n It\u2019s Xi\u2019s first visit to South Korea in 11 years. <\/p>\n On the sidelines of the summit, Xi had bilateral meetings with new Japanese Prime Minister Sanae Takaichi<\/a>, Canadian Prime Minister Mark Carney<\/a> and Thai Prime Minister Anutin Charnvirakul<\/a> on Friday. <\/p>\n In his meeting with Takaichi, Xi said he hopes the two countries would commit to building a constructive and stable relationship \u201cfit for the new era.\u201d Takaichi expressed hopes to ease what she called \u201ca variety of\u201d challenges facing the two countries. She said she also hopes to deepen her personal relationship with Xi. <\/p>\n On Saturday, Xi is to meet South Korean President Lee Jae Myung<\/a> for another one-on-one meeting expected to touch on North Korea\u2019s nuclear program. <\/p>\n APEC faces challenges <\/p>\n Established in 1989 during a period of increased globalization, APEC champions free and open trade and investment to accelerate regional economic integration. But the APEC region now faces challenges like strategic competitions between the U.S. and China<\/a>, supply chain vulnerabilities, aging populations and the impact of AI on jobs. The U.S. strategy has been shifted to economic competitions with China rather than cooperation, with Trump\u2019s tariff hikes and \u201cAmerica first\u201d agenda shaking markets and threatening decades of globalization and multinationalism.<\/p>\n Leaders and other representatives from 21 Asia-Pacific Rim economies are attending the APEC meeting to discuss how to promote economic cooperation and tackle shared challenges. Opening the summit as chair, Lee called for greater cooperation and solidarity.<\/p>\n \u201cIt\u2019s obvious that we can\u2019t always stand on the same side, as our national interests are at stake. But we can join together for the ultimate goal of shared prosperity,\u201d Lee said. \u201cI hope we will have candid and constructive discussions on how we can achieve APEC\u2019s vision in the face of the new challenge of a rapidly changing international economic environment.\u201d<\/p>\n