World and economic leaders are meeting during the APEC 2024 summit in Peru to discuss economics, trade, AI and sustainability. But after a record year for elections around the world that saw incumbents losing in record numbers, the future of the global economy is looking uncertain.
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00:00A warm welcome in Lima, Peru, as world leaders gather for the annual Asia-Pacific Economic
00:09Forum, bringing together some of the most powerful economies in the world.
00:14But one theme has run clear throughout the summit, as world leaders anticipate major
00:19changes in relations moving forward.
00:21We've now reached the moment of significant political change, and this is likely to be
00:27my last tri-lateral meeting with this important group, but I'm proud to have helped to keep
00:34one of the parts of building this partnership.
00:38The 21 member states of APEC account for nearly 40% of the global population, and over 60%
00:45of the world's GDP.
00:47This is its first global summit since Donald Trump's sweeping victory in the US election.
00:52He has pledged sharp policy shifts from climate change to trade, prompting responses from
00:59world leaders at the forum.
01:00Little secret, there is no American administration that is automatically easy for a Canadian
01:06government.
01:08They take a very robust look at their own interests, and Canada adjusts.
01:17Facing steep tariffs from the incoming Trump administration, Chinese President Xi Jinping
01:22released a written statement warning about the effects on the global economy, read out
01:27by the country's commerce minister.
01:52There's an air of uncertainty hanging over the conversations here at the summit, as policies
02:07change after a record-breaking year for elections, which saw incumbents defeated around the world.
02:14As Joe Biden and Xi Jinping prepare to meet on the final day of the summit, there's much
02:18anticipation about how the world's two biggest economies will navigate this changing landscape
02:24moving forward.
02:25Scott Huang, Harrell Hughes and Rhys Ayres in Lima, Peru for Taiwan Plus.