Monday, December 2, 2024

Reporter’s Note|APEC Lima Summit Approaches: Impressions of China on the Other Side of the World

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In mid-November, before the results of the U.S. presidential election were finalized, attention shifted to the Asia-Pacific Economic Cooperation (APEC) and the Group of Twenty (G20) summits held in Lima, Peru, and Rio de Janeiro, Brazil, respectively. Global leaders, including those from China, the U.S., and Japan, attended, although representatives from Russia and some European countries were absent due to ongoing conflicts and concerns about policy shifts with Donald Trump’s re-election in the U.S.

President Xi Jinping of China attended these summits, aiming to bolster China-Latin America relations through state visits to Peru and Brazil. Lima, though culturally rich, shows a need for urban development and infrastructure improvement. The summit’s promotional materials displayed support, indicating Peru’s anticipation for the upcoming 2024 APEC meeting it will host again since its last hosting in 2008 and 2016 [para. 1].

Peru, the fourth-largest country in Latin America, has a mixed economy driven by agriculture and mining, with a GDP per capita nearing $8,000. The country’s longstanding relationship with China has positioned it as a significant trade partner, highlighted by their Free Trade Agreement in 2009 and subsequent Belt and Road Initiative collaborations. Peru’s total foreign trade in 2023 reached $113.105 billion, with dominant trading sectors in machinery, textiles, and raw minerals like fishmeal and copper being exchanged with China [para. 3].

APEC and G20 gatherings scrutinized the expected return of Trump’s administered policy impacts, drawing questions on strategic preparations for this “Trump Administration 2.0” era. With President Biden’s tenure concluding in January 2025, there was anticipation over another potential meeting between U.S. and Chinese leaders, aiming to refresh bilateral relations after previous encounters [para. 4].

While attentive to international policy, local Peruvians hold a generally positive view of China, admiring its economic strength and cultural heritage, with many expressing hopes for advancements in bilateral projects like the Chancay Port. This deep-water harbor, funded through the Belt and Road Initiative, holds strategic importance in strengthening Peru’s trade reach with Asia, offering economic benefits projected to contribute $4.5 billion yearly [para. 8].

The Chancay Port aims to become Latin America’s “Singapore,” enhancing shipping efficiency in the region. Though facing legal obstacles and community dissatisfaction, Chinese investors emphasize the project’s commercial intent, dismissing the potential dual-use concerns voiced by international entities [para. 9].

In Peru, socio-economic challenges persist amid immigration influxes, exacerbating crime rates; Venezuelan migrants, such as Joseagusto Conseco, seek opportunities within the nation despite restrictive immigration policies tightening after Venezuela’s contested presidential elections in July 2023 [para. 12][para. 15].

Under President Dina Boluarte, Peru sees political instability, following Pedro Castillo’s impeachment. Despite hosting APEC, Boluarte confronts protests and stringent public perception, with citizens expressing discontent over governance and societal conditions [para. 17][para. 19].

The APEC summit provided an opportunity for Peru to shine on the world stage, attempting to stabilize its political and economic landscape while balancing international relations and internal affairs amidst global tensions. Enthusiasts like Hans Romero advocate for elevating Peru’s economic standing through steady leadership and strategic infrastructure development, aiming to leverage international partnerships initiated at such prominent global forums [para. 19].

AI generated, for reference only

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