Unilateralism and protectionism are on the rise, making the global economic recovery more difficult. Against this backdrop, cooperation and multilateralism are becoming increasingly important in tackling challenges that affect countries around the world. China continues to call for a more inclusive and mutually beneficial global economy and for countries to work together to address common challenges.
APEC's role comes into sharper focus
The International Monetary Fund (IMF) has cut its forecast for global economic growth in 2026 in its latest World Economic Outlook. At the same time, measures such as "de-risking," "decoupling" and building "small yards with high fences" are making the global economy more fragmented.
Xiong Zhiming, an editor with Myanmar's Chinese-language newspaper Golden Phoenix, said some countries still see international relations as a zero-sum game, putting short-term national interests first and making cooperation more difficult.
Against this backdrop, APEC's role is becoming increasingly important. Since its establishment in 1989, it has worked to make trade and investment easier and strengthen economic cooperation across the region. APEC's focus on voluntary participation, consensus-building and open regionalism is particularly important in today's complex geopolitical environment. With China hosting APEC for the third time this year, there are also expectations that China will play a bigger role in promoting international economic and trade cooperation.
New drivers for regional cooperation
A new wave of technological and industrial change is creating opportunities for economic globalization and cooperation across the Asia-Pacific. Digital technology, green development and artificial intelligence are opening up new areas for collaboration.
Chen Lin, president of Canada's Solo Magazine, said economies are at different stages of development in digital technology, green industries and AI, but these differences can also create opportunities to work together.
The Asia-Pacific is one of the world's most dynamic economic regions and a major hub for global trade, making stronger regional connections increasingly important. More barriers need to be removed in areas such as services, information, testing, certification and legal services.
Deepening multilateral cooperation
In May, the APEC trade ministers' meeting discussed multilateral and regional economic cooperation and adopted a joint statement and an updated services roadmap, showing a shared commitment to stronger connectivity and cooperation.
Chen Lin said open regionalism is at the heart of the Asia-Pacific community. It means respecting differences between economies while putting economic cooperation, voluntary participation and mutual benefit first.
With a focus on openness, innovation and cooperation, the APEC meetings in Shenzhen are expected to create new opportunities for closer regional cooperation and long-term stability and development across the Asia-Pacific.
Author | Li Muzi, Zhang Xuanzhen (intern), Liu Ziying (intern)
Photo | Nanfang Plus
