By Hasan Muhammad

 

 

As Peru hosts the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting, Beijing observes with a measured sense of optimism tempered by caution. In recent years, APEC's mission- to foster economic cooperation and remove trade barriers - has faced considerable strain. U.S. policy shifts have increasingly nudged Washington towards alternative, more U.S.-centric economic frameworks, sidelining APEC's collaborative spirit. 

 

As U.S. policies tilt towards "decoupling" and "de-risking" - a pivot from its earlier stance on multilateralism, China remains committed to advancing regional trade and economic integration, a vision APEC has traditionally championed.

 

Trade has long been central to APEC's agenda, and China is positioned to leverage this focus on economic exchange to strengthen its role in the Asia-Pacific. Despite uncertainties in the global market, APEC's projected 3.5 percent GDP growth for 2024 provides a solid backdrop for China's ambitions to expand its trade footprint and deepen economic ties. 

 

Investment, however, is where China's strategic vision truly takes shape. APEC's framework encourages Chinese companies to invest in emerging sectors critical to the region's future - renewable energy and technology among them. Reflecting this momentum, China's non-financial outward direct investment surged by 12.5 percent, totaling $110.99 billion by August 2024. Such growth aligns with APEC's sustainability priorities. For Beijing, these investments are not merely economic opportunities but strategic tools to forge deeper, mutually beneficial partnerships across APEC. 

 

Through measures like streamlining customs procedures and enhancing the transparency of trade policies, China has sought to remove hurdles, aiming to make the Asia-Pacific a more fluid, efficient space for commerce.

 

Further strengthening this regional integration, China has played an essential role in multilateral agreements, notably the Regional Comprehensive Economic Partnership (RCEP), which aligns closely with APEC's goals. On infrastructure, China's commitment is equally robust. Through projects like the China-Laos Railway, Beijing has bolstered regional connectivity, reinforcing economic links and enhancing the efficiency of transportation networks across Southeast Asia.. 

 

Through shared research platforms and joint projects, China encourages the pooling of scientific resources across the region, a move it sees as vital to collective progress. With established expertise in e-commerce, big data, and artificial intelligence, China offers guidance to neighboring economies navigating digital transformation, helping to modernize traditional industries and bridge the technological gap in the region. Beyond tech, China prioritizes talent exchange, establishing global cooperation hubs and training centers that attract international researchers while dispatching its own experts abroad. 

 

In the realm of social development, China also brings substantial experience in poverty alleviation, education, and healthcare, sharing successful frameworks with developing countries. China's targeted poverty alleviation strategy, which lifted millions from poverty, serves as a replicable model for others, underscoring the value of focused intervention. By extending its knowledge, China not only enhances living standards across the Asia-Pacific but also strengthens its role as a stabilizing force in regional development.