Friday, December 1, 2023

The US promotes progress and key meetings with China at APEC for peaceful region

US Treasury Secretary Janet Yellen emphasized this Monday that the Asia-Pacific Economic Cooperation Forum (APEC), hosted by the US in its 30th edition, brings progress to a more “open” region. “dynamic, strong and peaceful.”

“We are moving forward with our shared vision of making the Asia-Pacific region more open, dynamic, strong and peaceful through financial commitments,” said the US Treasury Secretary, Janet Yellenin a press conference after leading the ministerial meetings held in San Francisco (USA) with his counterparts from 21 participating economies.

The forum, which continues until Friday and will feature meetings with foreign ministers after the leaders’ summit, highlights the meeting between the head of the US Executive, Joe Biden, and China’s, Xi Jinping, on Wednesday.

An important event to strengthen the competition between the two most important powers in the world and try to prevent an open conflict in the face of constant sources of tension.

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“Responsible management of the economic relationship between the United States and China has also become an important priority during my stay in San Francisco (…) “President Biden and I are committed to a healthy and strong economic relationship with China,” Highlighted by Yellen, who met with Chinese Finance Minister Lan Fo’an at APEC on Sunday.

The US representative – who also recently met with Chinese Vice Premier He Lifeng – emphasized that he hopes these meetings will serve to “deepen communication, strengthen relations and advance important political issues.”

In addition, Yellen reported that the high-level economic meetings of APEC, which began on Sunday and ended today, included the sharing of global views on the economy of the members where the war between Israel and Hamas arose.

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In that sense, although “the economic impact” of this conflict has not yet been seen, according to the US Treasury Secretary, APEC partners have agreed to “work to do everything in their power to try to prevent it.”

APEC economies represent almost 60% of the world’s GDP and their economic meetings are mainly focused on the implementation of policies committed to the environment in a commitment to sustainable finance.

“APEC members confirmed their interest in using policies that expand productive capacity and, at the same time, achieve results such as reducing inequality and protecting the environment,” explained Yellen, who emphasized the need to sign “credible climate commitments.”

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Finally, the use of digital assets – whether unbacked crypto assets or digital currencies issued by central banks – was also discussed in these ministerial meetings, where the US praised the “leadership of many economies” and in APEC in this regard, but he emphasized the need. for “adequate regulation because of the risks they entail.”

APEC, a forum founded in 1989 that now represents approximately 40% of the planet’s population, brings together 21 territories in Asia and America that bathe in the Pacific Ocean: Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Taiwan, Thailand, United States and Vietnam.

Nation World News Desk
Nation World News Desk
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