As leaders prepare to convene in the Peruvian capital of Lima for the 31st APEC Economic Leaders’ Meeting, one question looms large: how can the Asia-Pacific region sustain its further development in a world rife with uncertainty?
For decades, Asia-Pacific has been an economic powerhouse, driving growth through trade and investment liberalization, business facilitation, and economic and technical cooperation.
The “Asia-Pacific Miracle” does not come easily. It was forged in an environment of peace, inclusivity, and cooperation among diverse economies, each committed to shared prosperity.
But today, the world looks different. Rising geopolitical tensions, coupled with economic disruptions caused by U.S. protectionist measures and attempts at so-called “decoupling” and “de-risking,” are placing unprecedented pressure on the region’s stability and prosperity.
APEC now faces a critical decision: whether to cling to its role as a beacon of cooperative economic growth or risk degenerating into an arena for geopolitical conflicts or even a “new Cold War.”
Home to one-third of the world’s population, over 60 percent of global GDP, and nearly half of all trade, Asia-Pacific cannot afford division. It must continue to serve as a stabilizer and booster for the world economy.
Reflecting on its achievements, the region’s success has hinged on a peaceful and stable environment, and a shared commitment to openness and integration.
This foundation of stability has nurtured conditions for rapid economic growth. Through concerted efforts to maintain peace and stability, regional members have been able to focus on priorities like improving living standards, creating jobs, and reducing poverty, which, in turn, has fueled stronger economies and more resilient societies.
By respecting differences, embracing diversity, and pursuing common goals, Asia-Pacific members have shown that unity and cooperation are crucial in addressing shared challenges.
The region’s dedication to fostering cross-border trade, investment, and technological collaboration has created a dynamic environment where economies can thrive together. This openness to integration has enabled members to leverage each other’s strengths and achieve win-win results.
The region has also maintained a strong sense of community. Its past achievements stand as testaments to the shared efforts of all stakeholders, built on a foundation of mutual trust, inclusiveness, cooperation, and mutual benefit. If history is any guide, economic cooperation in the Asia-Pacific has never been a zero-sum game. Rather, it has been a platform for mutual success and shared development.
The path forward is challenging. As APEC leaders gather in Peru, they must renew their commitment to building an integrated, open region that prioritizes cooperation over confrontation.
African Times has published this article in partnership with Xinhua News Agency
