APEC nations grapple with the Trump effect in Lima
November 20, 2016
The Trump effect permeates every discussion here in Lima, where the leaders of 21 nations with more than half of the world's wealth between them have gathered.
The two nations most targeted by president-elect Donald Trump's election rhetoric — Mexico and China — appear to be taking very different approaches.
Mexico seeks mainly to minimize the damage, while China, feeling its position to be much stronger, is not only defiant but sees the rise of Trump as an opportunity.
President Xi Jinping seemed anxious to position himself as the anti-Trump on Saturday as he gave a full-throated paean to the idea of free trade.
"We are going to give greater access to foreign investment and we are going to continue establishing high standards, pilot zones for free trade in China. We are going to create an environment in line with international standards. We are going to guarantee the existence of an equal playing field for all businesses in China, both domestic and foreign ones," he said.
The TPP was sold by the Obama administration as a counterweight to China's growing dominance in the Asia-Pacific region.
China sees Trump's scrapping of the accord as an opportunity to rope TPP signatory nations into a new trade zone with China at its centre.
"We ought to continue deepening and expanding the cooperation in our region. We ought to build a common platform, establish common rules and share the results of our development. Any attempt to exclude any of us ought to be rejected," he told his fellow leaders.
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