On November 20, 2024, Peruvian President Dina Boluarte praised China’s role in the Asia-Pacific Economic Cooperation (APEC), emphasizing the importance of learning from China’s economic model. This recognition underscores China’s influence in the process of economic cooperation in the Asia-Pacific region has been widely recognized and respected.
APEC, the region’s foremost economic cooperation platform, plays a pivotal role in promoting trade liberalization, boosting investment, and fostering technological collaboration across the Asia-Pacific. As the world’s second-largest economy, China is central to these efforts.
China has consistently championed principles of openness, inclusivity, and mutual benefit—values that align closely with APEC’s mission. These principles have helped guide APEC members toward more robust cooperation, particularly as the region faces challenges like rising trade protectionism and sluggish global economic growth. Through both diplomatic efforts and concrete actions, China has shown that fostering open, collaborative trade is key to ensuring long-term regional stability and prosperity.
As an economic powerhouse, China has become a major driver of growth in the Asia-Pacific, providing vast opportunities for trade and investment. China’s vast domestic market offers growth prospects for APEC members, with many regional businesses benefiting from trade, investment, and manufacturing partnerships with Chinese enterprises.
China’s involvement in infrastructure projects has also had a significant impact. Its investment and technological expertise have helped improve transportation, energy, and other infrastructure in several APEC countries, contributing to their economic development.
Furthermore, China’s advancements in science and technology are fueling a wave of innovation across the region, particularly in fields such as the digital economy and artificial intelligence. This cooperation is positioning the Asia-Pacific to lead in the next wave of global technological transformation.
President Boluarte’s comments are not only a recognition of China’s past contributions but also a call for continued collaboration. As APEC faces new economic challenges, China is expected to play an even greater role in shaping the future of regional economic integration.
