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President Xi Jinping promised that China would not participate in the disassociation, in an address to Asia-Pacific leaders in Kuala Lumpur, just days after the region inaugurated the world’s largest free trade agreement.
Xi’s speech at the Asia-Pacific Economic Cooperation (APEC) summits on Thursday came as the world waited for clues on how US President-elect Joe Biden will approach the region. The White House declined to say on Wednesday whether President Donald Trump plans to address the meeting in Malaysia, held practically this year due to the pandemic.
“We will not reverse course or run against the historical trend by separating or forming a small circle to keep others out,” Xi said by video. “Opening to the outside world is a basic national policy and it will not waver at any time.”
Singapore Prime Minister Lee Hsien Loong said after Xi that a Biden-led US government was more likely to take a multilateral approach to trade that would support existing international institutions and forums. Lee, whose city-state relies on both trade and security support from the United States, dealt a blow to Trump’s “America First” economic policies.
“They have not endorsed trade as a win-win proposition,” Lee said. “The attitude of the Trump administration is that this is a win-win proposition: ‘If I have a trade surplus with you, that’s good for me. If I have a trade deficit with you, that’s bad for me. ‘ Commerce is not like that. “
Prime Ministers Scott Morrison of Australia, Yoshihide Suga of Japan and Jacinda Ardern of New Zealand were among those expected to speak.
