Multilateralism vs. America First: The Shift in Global Economic Power

The U.S. and China's contrasting approaches to global economic engagement were highlighted during APEC. President Trump's focus on tariffs and bilateral deals contrasts with China's push for multilateralism. As Trump's influence wanes in the Asia-Pacific, China's strategic positioning underscores a shift in global economic leadership.

The stark contrast between U.S. and Chinese economic diplomacy was on full display as Air Force One departed South Korea, while Chinese leader Xi Jinping settled into the APEC summit. This moment highlights a pivotal shift in global economic leadership dynamics.

Under President Donald Trump, the U.S. has shirked its traditional role as a champion of free trade, opting instead for tariffs and bilateral agreements. Meanwhile, China's President Xi Jinping has asserted his leadership by advocating for multilateral trade systems, positioning Beijing as a reliable partner for global free trade.

China's strategic maneuvering amidst U.S. unpredictability included the recent China-ASEAN free trade deal, contrasting sharply with Trump's transactional approach. As Xi continues to foster international ties, the Asia-Pacific region watches closely, balancing the benefits of Chinese economic ties against Beijing's intimidating dominance in trade.

(With inputs from agencies.)