Politics
Xi Jinping heading to Asia-Pacific summit under threat of new trade wars under Trump era
At the end of this Apec summit in Peru, the Chinese president will travel to Brazil, where he will participate in the G20 summit.
President Xi Jinping left China this Wednesday, November 13, for Peru, where he will participate in the Asia-Pacific Economic Cooperation (APEC) summit, under the threat of new trade wars under the Trump era.
The Chinese head of state will meet in Lima with other leaders of the economies of the zone, which represents 60% of world GDP and brings together 21 member countries, including Japan, South Korea, the United States, Mexico and even the Russia.
Real estate crisis, sluggish consumption
At the end of this meeting, held a few days after the resounding American presidential victory of Donald Trump, Xi Jinping will travel to Brazil, where he will participate in the G20 summit.
China, the world's second largest economy, is grappling with a real estate crisis and sluggish consumption which could worsen with the Republican tycoon returning to the White House.
During his campaign, Donald Trump promised to protect American industry, threatening to impose customs duties of 10 to 20% on all imported products and even 60% for those coming from China.
On the sidelines of the Apec summit, the Chinese head of state will also inaugurate on Thursday with his Peruvian counterpart Dina Boluarte the new Chancay megaport, located north of Lima.
Growing influence
Financed by China to the tune of 3.5 billion dollars (3.3 billion euros), the port terminal, which will have 15 long-term berths, illustrates the growing influence of the Asian giant in Latin America, once considered the reserved domain of the United States.
Bilateral trade between the Asian giant and Peru, one of the fastest growing economies in Latin America over the past decade, stood at nearly $36 billion (€34 billion) in 2023. . This makes Peru China's fourth trading partner in Latin America.
The Chancay megaport will also benefit Chile, Colombia and Ecuador, among other South American countries. It will allow them to do without Mexican and American ports for their trade with Asia.
APEC ministerial meetings will take place in Lima on Thursday, before the summit of heads of state on Friday and Saturday. After Peru, Xi Jinping will go to the crowds at the G20 Rio de Janeiro summit in Brazil, a country of which China is the largest trading partner, with more than 180 billion dollars (169 billion euros) in bilateral trade in 2023.
War in Ukraine
Since his return to power last year, Brazilian President Luiz Inacio Lula da Silva has been engaged in a delicate balancing act. He seeks to deepen ties with Beijing while wishing to improve relations with Washington. Brazil and China are seeking to position themselves as mediators in the war in Ukraine. Unlike Western nations, they did not sanction Russia for its invasion.
In June, the visit to China by Brazilian Vice President Geraldo Alckmin was seen as paving the way for Brazil to join China's Belt and Road Initiative (officially called the Belt and Road Initiative).
This major program aims to build infrastructure and develop maritime, road and rail links between continents, particularly in developing countries. Several South American countries have already joined this initiative, which constitutes a central axis of Xi Jinping's strategy to increase China's influence abroad. These nations include Argentina, Chile, Bolivia, Ecuador, Peru and Venezuela.
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