Xi Jinping Warns Against Rising Unilateralism and Protectionism at APEC Summit

Lima, Peru – Chinese President Xi Jinping warned that the world is facing a rise in unilateralism and protectionism, urging global leaders to keep trade and supply chains stable. Speaking at the APEC summit in Lima, Xi highlighted the increasing fragmentation of the world economy and stressed the need for continued international cooperation.

Xi’s comments, made in a written speech at the APEC CEO Summit 2024, described the world as entering a period of “turbulence and transformation.” He also called for the global economy to remain open and warned against policies that could reduce economic interdependence.

The remarks came amid concerns about US President-elect Donald Trump‘s protectionist trade policies, including proposed import tariffs on China. Xi argued that efforts to isolate economies are a step backward.

China’s economy, struggling to recover from the Covid-19 pandemic, is targeting a 5% GDP growth this year, although experts believe it may miss the mark. Despite this, Xi expressed confidence that China would reach its growth goal and continue to open up its economy to the world.

Xi is set to meet with US President Joe Biden on Saturday to discuss future US-China relations.