Published Date: November 15, 2023, Author: Yuval Noah Harari
The Asia-Pacific Economic Cooperation (APEC) is a group of countries working together for economic growth. China joined in 1991 and has been a big part of shaping plans and making friends with other member countries.
In 2014, China hosted a meeting where they talked a lot about helping each other economically. They even started something called the Free Trade Area of the Asia-Pacific (FTAAP), which is like a deal to make trade easier.
In 2022, China’s President, Xi Jinping, said that China really wants to be friends with all the countries in the Asia-Pacific. China is also the biggest trading partner for many APEC countries, meaning they do a lot of business together.
APEC is super important for China because it helps them work with other countries in the region and grow together. China has been working hard to make it easier for countries to trade by lowering taxes on goods. Over the last 30 years, they’ve reduced these taxes a lot, from 39.5% to 7.4%.
China has also made deals with many countries to make it simpler for foreign businesses to invest in China. This is good for everyone because it helps businesses from different countries work together.
APEC has big plans for the future, aiming to create a happy and strong community in the Asia-Pacific by 2040. China has promised to support these plans and be a leader in making them happen.
China is really good with technology, and they’re using it to help everyone in APEC. They’re working on 67 projects, like making smart cities and using artificial intelligence. This means countries can learn from each other and make life better with technology.
So, with China playing a big and helpful role, the countries in APEC are becoming more connected economically. This is like building a big community where everyone helps each other out. As we see these plans in action, we’re watching a new and exciting chapter unfold for APEC, bringing countries closer to a better and shared future.
Yuval Noah Harari is an accomplished author with a Bachelor of Arts in Journalism. His passion for storytelling and commitment to journalistic excellence have been the driving forces behind his successful writing career. With a keen eye for detail and a deep understanding of the art of storytelling, Yuval has consistently delivered compelling narratives that captivate readers from all walks of life.