Policy Backgrounders
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Geopolitics Hub

Policy Backgrounders

CED’s Policy Backgrounders provide timely insights on prominent business and economic policy issues facing the nation.

APEC and IPEF Summits in San Francisco

November 30, 2023

Asia-Pacific Economic Cooperation (APEC) brings together 21 economies in the Asia-Pacific region that together comprise 60 percent of global GDP, 40 percent of the world’s population and 60 percent of US exports. The US recently hosted the APEC Economic Leaders Meeting in San Francisco.

  • While the Meeting itself had relatively few concrete achievements, the leaders’ commitment to reinvigorating the World Trade Organization, including by supporting appointment of members to its currently-suspended Appellate Body, could help resolve trade tensions by permitting the WTO to take decisions once again.
  • A separate summit of 14 nations in the US-led Indo-Pacific Economic Framework reached agreements on supply chains, anticorruption, and clean energy—but not on trade, presumably because of US reluctance.
  • Bilateral meetings on the margins of the Leaders Meeting, especially between the President and President Xi Jinping of China, reached potentially important agreements on reducing tension in both the South China Sea and Northeast Asia.

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Authors

Dr. Lori Esposito Murray

Dr. Lori Esposito Murray

Former President

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John Gardner

John Gardner

Vice President, Public Policy

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