US officials seek Asia-Pacific Economic Cooperation summit to become a landmark moment in US President Joe Biden’s efforts to strengthen relations with China and increase economic influence – thejapantimes.
Next week’s meeting of representatives from 21 countries in San Francisco will be the first time the US has hosted the event in 12 years. It will feature the first conversation in a year between Biden and his Chinese counterpart Xi Jinping.
It is also an important moment for Xi Jinping, who is making his first visit to the US territory since 2017. In addition, top executives from major companies will attend the event, offering an opportunity to attract foreign investment.
The APEC CEO Summit will also be attended by US and global CEOs, including Jane Fraser of Citigroup, Darren Woods of ExxonMobil and Elon Musk of Tesla and SpaceX.
While Biden’s attention had previously focused on the Israel-Hamas war and financial aid to Ukraine, administration officials stated that they were focused on advancing a number of key initiatives for the Asia-Pacific region. One of the priorities is to solidify elements of the Indo-Pacific Economic Agenda, including clean energy and anti-corruption initiatives.
National security priorities would also be high on the agenda as the US sought to counter growing Chinese military influence, White House National Security Council spokesman John Kirby stated on Wednesday.
Yes, we’re focused on what is going on in the Middle East and in Europe, but we have not and will not turn a blind eye to the security challenges that remain in the Indo-Pacific.
However, much of the summit’s focus will be directed at the meeting between Biden and Xi Jinping, the first appearance by the leaders of the world’s two largest economies since the G-20 summit in Bali, Indonesia, in November 2022.
The countries are expected to renew military ties cut off by Beijing after former Speaker Nancy Pelosi had visited Taiwan in 2022.
China’s leader is expected to convince foreign leaders that his country is open for business, even as China’s crackdown on technology has alarmed foreign companies. Xi is also trying to try to steer China out of its economic crisis after the country experienced a sharp downturn this year.
In addition, the CEO summit and Xi Jinping’s dinner with business leaders give US tech executives an opportunity to convey to Xi Jinping that they are committed to continue conducting business in China, even as the US government raises barriers around technology for national security purposes.
Musk, Microsoft’s Satya Nadella, Alphabet CEO Sundar Pichai and Sam Altman, CEO of OpenAI, will also attend the meeting.
US cabinet officials have also organised a number of high-level meetings. Treasury Secretary Janet Yellen will host her APEC counterparts on November 12 and 13 after two-day talks with Chinese Vice Premier He Lifeng this week. Biden is set to meet with San Francisco Mayor London Breed on Wednesday evening.
Secretary of State Antony Blinken and US Trade Representative Katherine Tai are scheduled to hold a ministerial meeting on November 14 and 15.
