President Biden pitched regional leaders and tech CEOs on American leadership and business opportunities.
President Joe Biden on Thursday made America's case to national leaders and CEOs attending the Asia-Pacific summit that the United States is committed to high standards in trade and to partnerships that will benefit economies across the Pacific.Fresh off his meeting with Chinese President Xi Jinping, Biden also told business leaders that the U.S. was “de-risking and diversifying” but not"decoupling” from Beijing. But he did not mince words in suggesting the U.S.
The meeting comes less than three months after Biden hosted Kishida and Yoon for a historic summit at the Camp David presidential retreat. Japan and South Korea have been historically bitter rivals, but the two leaders have sought to look past decades of tension amid shared concerns about growing regional threats from North Korea and an increasingly assertive China. Japan colonized the Korean Peninsula between 1910 and 1945.
The U.S. hasn't hosted the annual leaders' summit — started in 1993 by President Bill Clinton -- since 2011. The group met virtually in 2020 and 2021 because of the coronavirus pandemic. Leaders did gather in Bangkok last year, but Biden skipped the summit because his granddaughter was getting married, and he sent Vice President Kamala Harris in his place.
Demonstrations in and around APEC continued Thursday. Hours before leaders were to gather at the Moscone Center for the summit, protesters calling for a cease-fire in the Israel-Hamas war were detained by police after shutting down all traffic over a major commuting bridge heading into San Francisco.
Xi did not address the APEC CEOs meeting but instead sent a lengthy “written speech” in which he wrote that “forcing uniformity will not advance cooperation in the region” and declared that China was looking for stability during a moment of “turbulence and change” in the world. Xi, though, was gloomy about the state of the post-pandemic global economy. China’s economy remains in the doldrums, with prices falling due to slack demand from consumers and businesses.
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