thedailyeveningnews.com
Advertisement
  • Home
  • National
  • Politics
  • World
  • Business & Economy
  • Sports
  • Entertainment
  • Education
  • Health
  • Lifestyle
  • Opinion
  • More
    • Districts
    • Science & Technology
    • Climate, Environment & Energy
  •   Epaper  
  •   বাংলা  
No Result
View All Result
  • Home
  • National
  • Politics
  • World
  • Business & Economy
  • Sports
  • Entertainment
  • Education
  • Health
  • Lifestyle
  • Opinion
  • More
    • Districts
    • Science & Technology
    • Climate, Environment & Energy
No Result
View All Result
thedailyeveningnews.com
Home World

Fears of Trump trade wars cast pall over Asia-Pacific summit

by Md. Arif
November 12, 2024
in World
0
Themed: 'Empower. Include. Grow,' the 2024 APEC summit was to focus on trade and investment for inclusive growth (Cris BOURONCLE) (Cris BOURONCLE/AFP/AFP)

Themed: 'Empower. Include. Grow,' the 2024 APEC summit was to focus on trade and investment for inclusive growth (Cris BOURONCLE) (Cris BOURONCLE/AFP/AFP)

Share on FacebookShare on Twitter

AFP- The presidents of the United States, China and other Asia Pacific nations gather in Lima this week for an economic summit overshadowed by the prospect of a world embroiled in trade wars under Donald Trump.

It will be the last Asia-Pacific Economic Cooperation (APEC) summit for Joe Biden before he hands the presidency to Trump next year after a rout for the Democratic Party in November 5 presidential elections.

Trump’s “America First” agenda, with protectionist stances on global commerce, fossil fuel extraction and foreign conflicts, is threatening alliances Biden had built on issues ranging from the wars in Ukraine and the Middle East, to climate change and trade.

Biden will be in the Peruvian capital later this week with China’s Xi Jinping, who had called for the two countries to find ways to “get along” after Trump’s victory.

It is not known if the men will meet for private talks, nor has any envoy from Trump’s Republican Party been confirmed to attend the summit.

The president-elect has promised to slap huge new tariffs on Beijing in an attempt to balance bilateral trade, which he claims has left America holding the short end of the stick.

He also threatened tariffs of 25 percent or more on goods coming from Mexico unless it stops an “onslaught of criminals and drugs” crossing the border.

“Trump’s victory will definitely impact the APEC summit, given his rather protectionist narrative,” international relations professor Oscar Vidarte of the Catholic University of Peru told AFP.

“APEC is obviously weakened,” he added.

APEC, created in 1989 with a goal of regional trade liberalization, brings together 21 economies that jointly represent 62 percent of global GDP and over 40 percent of global commerce.

With the theme: “Empower. Include. Grow,” the 2024 summit program was to focus on trade and investment for inclusive growth, innovation, and sustainable growth for its members’ common good.

But uncertainty over Trump’s next moves now clouds the event’s agenda — as it does with the COP29 climate talks under way in Azerbaijan, and a G20 summit in Rio de Janeiro next week.

– ‘A tougher stance’ –

Biden had not removed all the tariffs imposed on China during Trump’s first term from 2017-2021.

But observers say the 47th president’s increasingly pugilistic narrative will drive the wedge between Washington and Beijing ever deeper.

“With respect to the two main issues on the agenda — migration and China — Trump will take a tougher stance… than Biden,” Michael Shifter, an expert at the Inter-American Dialogue, a think tank in Washington, told AFP.

“There is a risk, however, that pressuring governments in the Pacific Basin to pick sides between China and the US could be counterproductive, increasing China’s presence and influence in Latin America.”

While in Peru, Xi will inaugurate South America’s first Chinese-funded port, in Chancay, north of Lima.

Expected to serve as a major trade hub, the $3.5-billion complex is seen as symbolic of Beijing’s growing influence in South America, where it has built a vast array of railways, highways and other infrastructure.

China is an ally of Western pariahs Russia and North Korea, and is building up its own military capacity while ramping up pressure on Taiwan, which it claims as part of its territory.

But the world’s second-largest economy is grappling with a prolonged housing crisis and sluggish consumption that can only be made worse by Trump’s tariffs.

Economists say punitive tariffs will likely also harm the American economy and affect trade with neighbors Canada and Mexico — both APEC members — as well as Europe.

Starting Wednesday, Lima will receive government ministers and business leaders of APEC member countries, which also include Russia, Japan, South Korea, Indonesia, Chile and Australia.

Ministerial meetings will take place Thursday, followed by talks at the level of heads of state the following two days.

Russia’s Vladimir Putin is not attending the summit, for which Peru has deployed more than 13,000 soldiers in Lima.

Reports: AFP

Previous Post

Vishnu idol weighing eleven and a half kg was recovered from Lalmonirhat

Next Post

Toxic smog smothering India’s capital smashes WHO limit

Next Post
Labourers stand on a scaffolding amid dense smog in New Delhi on November 13, 2024 (Sajjad HUSSAIN) (Sajjad HUSSAIN/AFP/AFP)

Toxic smog smothering India's capital smashes WHO limit

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Another achievement: Commodity prices are going to be controlled

Another achievement: Commodity prices are going to be controlled

August 20, 2024
Mymensingh Palli Vidut Samiti-3 is on continuous strike

Mymensingh Palli Vidut Samiti-3 is on continuous strike

July 7, 2024
Indefinite strike in Khulna Palli Bidyut Samity to implement uniform employment rules

Indefinite strike in Khulna Palli Bidyut Samity to implement uniform employment rules

July 4, 2024
Two thousand four hundred sub-assistants of LGED Engineers are discriminated against in promotion, chain of command may break down.

Two thousand four hundred sub-assistants of LGED Engineers are discriminated against in promotion, chain of command may break down.

September 9, 2024
In the runs: Aaron Johnson on his way to his half-century on Tuesday Pic: AFP

Rizwan, Babar keep Pakistan alive at T20 World Cup

0
Warholm leads galaxy of stars at classy Euros

Warholm leads galaxy of stars at classy Euros

0
NATO’s Stoltenberg meets Hungary’s Orban amid tensions

NATO’s Stoltenberg meets Hungary’s Orban amid tensions

0
G7 to agree $50-bn Ukraine loan at Italy summit

G7 to agree $50-bn Ukraine loan at Italy summit

0
Human chain and press conference demanding protection of Lalmonirhat City College grounds and roads

Human chain and press conference demanding protection of Lalmonirhat City College grounds and roads

June 1, 2025
World Milk Day celebrated

World Milk Day celebrated

June 1, 2025
Anti-corruption debate competition in Mirpur, Kushtia

Anti-corruption debate competition in Mirpur, Kushtia

May 29, 2025
The backward population of Sunamganj should be brought forward through nutrition awareness

The backward population of Sunamganj should be brought forward through nutrition awareness

May 29, 2025

Recent News

Human chain and press conference demanding protection of Lalmonirhat City College grounds and roads

Human chain and press conference demanding protection of Lalmonirhat City College grounds and roads

June 1, 2025
World Milk Day celebrated

World Milk Day celebrated

June 1, 2025
Anti-corruption debate competition in Mirpur, Kushtia

Anti-corruption debate competition in Mirpur, Kushtia

May 29, 2025
The backward population of Sunamganj should be brought forward through nutrition awareness

The backward population of Sunamganj should be brought forward through nutrition awareness

May 29, 2025
thedailyeveningnews.com

Editor and Publisher
A.B.M Salim Ahmed
The Daily Evening News
14 Purana Paltan, Dar-us-salam Arcade
(09th Floor), Dhaka-1000.
Phone: 01713-043081, 01973-043081,
E-mail: eveningbd@yahoo.com

Follow Us

Browse by Category

  • Animal
  • Bangladesh
  • Business & Economy
  • Climate, Environment & Energy
  • Corporate
  • Diplomacy
  • Districts
  • Education
  • Elections
  • Entertainment
  • Gallery
  • Health
  • Lifestyle
  • Metro
  • National
  • Opinion
  • Politics
  • Science & Technology
  • Sports
  • Travel
  • Uncategorized
  • World

© 2024 The Daily Evening News All rights reserved.

The best sites to buy Instagram followers in 2024 are easily Smmsav.com and Followersav.com. Betcasinoscript.com is Best sites Buy certified Online Casino Script. buy instagram followers buy instagram followers Online Casino

No Result
View All Result
  • Home
  • National
  • Politics
  • World
  • Business & Economy
  • Sports
  • Entertainment
  • Education
  • Health
  • Science & Technology
  • Lifestyle
  • Climate, Environment & Energy
  • Opinion
  • Epaper
  • বাংলা