Blinken says addressing Ukraine war consequences is essential focus of APEC
Antony Blinken, United States Secretary of State speaks to the media throughout the APEC 2022 held at Queen Sirikit National Convention Centre (QSNCC) in Bangkok. (Photo by Varuth Pongsapipatt/SOPA Images/LightRocket via Getty Images)
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Addressing the results of the Ukraine war on global economic challenges is a key focus of APEC’s meeting, U.S. Secretary of State Antony Blinken said Thursday.
“People in every APEC economy are scuffling with the worldwide economic challenges which have been exacerbated by Russia’s war. Addressing those consequences together was a key focus of our meetings here in Bangkok,” he told journalists.
The IMF previously issued warnings on the fragmentation of the worldwide economy in consequence of the war on Ukraine, and trimmed 2023 growth forecasts to 2.7% — predicting a slowdown from an expected 3.2% in 2022.
Blinken hailed Thailand’s “exceptional leadership” in directing the APEC bloc through difficult times, in addition to the country’s efforts to make sure environmental sustainability is core at every discussion.
“The US is committed to constructing on these and other areas of Thailand’s leadership after we take over the presidency of APEC next yr,” he added. “Our focus will probably be on making a resilient and sustainable future for all by constructing a region that’s more interconnected, more modern, and more inclusive.”
— Lee Ying Shan
Diplomats make last push for Ukraine crisis at APEC meeting
After ASEAN and G-20 meetings, the possible spillover of the war in Ukraine into Europe’s eastern flank looms large over the two-day APEC summit.
The meeting of world leaders within the Thai capital of Bangkok may be the last likelihood in a recent flurry of diplomatic efforts within the region to attempt to find consensus to forge a path toward peace talks between Russia and Ukraine.
“How will we help bring all of the parties within the conflict here to the table and check out to search out an answer? We’d like to get to that time as soon as we will,” Kasemsit Pathosak, executive director of the APEC CEO Summit told CNBC.
Attendees for the group’s first in-person summit in 4 years include Chinese President Xi Jinping, U.S. Vice President Kamala Harris, Japanese Prime Minister Fumio Kishida and Indian Prime Minister Narendra Modi. Major stakeholders like U.S. President Joe Biden and his Russian counterpart Vladimir Putin won’t be there.
— Lee Ying Shan, Sri Jegarajah
China’s Xi cautions against ‘big power contest’ in Asia-Pacific
China’s president, Xi Jinping, warned in a written keynote speech Thursday against the weaponization of economic relations and turning the Asia-Pacific region into an influence competition.
“Any try and politicize and weaponize economic and trade relations also needs to be rejected by all,” said the president, who cautioned that the Asia-Pacific area mustn’t turn out to be an “arena for giant power contest.”
His remarks come on the heels of the heightened rivalry between the U.S. and China for influence within the region.
The president added that China is committed to promoting the “stability and prosperity” of the realm. He acknowledged how economies were contending with supply chain disruptions as well energy and food supply issues.
“”Openness brings progress while closing the door can leave one behind. Any try and disrupt and even dismantle the economic and provide chains formed within the Asia-Pacific over a few years will only lead Asia-Pacific economic cooperation to a dead end.”
— Lee Ying Shan
