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Chinese President Xi Jinping's U.S. visit amid APEC meeting: Advancing global cooperation and ensuring stability

Saud Faisal Malik

Editor's note: Saud Faisal Malik is the founder and CEO of The Daily CPEC, a news website focusing on the China-Pakistan Economic Corridor. The article reflects the author's personal opinions and not necessarily the views of CGTN.

Amid global uncertainty, Chinese President Xi Jinping's visit to the U.S. from November 14 to November 17 for a summit with U.S. President Joe Biden, along with the 30th Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting, is a beacon of hope in the spirit of promoting dialogue and cooperation. Coordinated at Biden's invitation, this diplomatic endeavor has the potential to improve China-U.S. ties while also advancing the stability and development of the Asia-Pacific region.

This summit marks the first in-person meeting between Xi and Biden since their encounter at the G20 summit in Bali last year; It is therefore noteworthy both for its timing and its outcomes. The summit is a chance for the leaders to rewrite and reset the future direction of China-U.S. relations against the backdrop of a year filled with significant events in bilateral relations.

This meeting has enormous diplomatic significance. It is anticipated that the two heads of state would have deep discussions about matters of strategic and fundamental significance. The focus will be on critical global topics pertaining to world peace and development, spanning beyond bilateral ties.

Meanwhile, Xi's attendance at the APEC Economic Leaders' Meeting highlights China's steadfast dedication to promoting economic cooperation in the Asia-Pacific area.

Home to nearly 40 percent of the world's population, the 21 APEC economies – including China, the U.S., and Russia – collectively wield immense influence, and account for half of global trade and over 60 percent of the world's GDP. Beyond its economic purpose, this assembly of leaders from the 21 APEC economies becomes an essential platform for coordinating geopolitical cooperation throughout the Pacific Rim. A strategic forum where leaders convene to shape fiscal policies and foster a cooperative geopolitical environment in this dynamic region, the APEC meeting takes on significance beyond its economic implications.

The recently released APEC Regional Trends Analysis report outlines a number of challenges facing the Asia-Pacific region, such as trade protectionism, inflation, debt, climate change, and geoeconomic fragmentation. Despite the complexity of the situation, there exist favorable prospects like a revival in tourism, elevated spending and focused financial assistance. The likelihood of taking advantage of these opportunities becomes vital for the region's continued growth and prosperity, despite the significant obstacles.

APEC's values are perfectly aligned with Xi's vision, which emphasizes the value of group efforts in building a global community with a shared future. This vision is based on the ideas of genuine multilateralism, peaceful development, new economic globalization and the advancement of shared values. Given that the Asia-Pacific region is a major contributor to global growth, it is critical that issues are addressed collaboratively in order to ensure long-term prosperity. The region's dedication to sustainable development and cooperative global advancement is strengthened by the emphasis on shared values and cooperative solutions.

In addition to the APEC meeting, the much-anticipated meeting between Xi and Biden holds immense significance. The warm welcome extended to Xi by U.S. officials upon his arrival in San Francisco is a positive sign. It is imperative that leaders of both countries put aside their differences and actively engage in meaningful dialogue given the current geopolitical environment. Amid difficulties and conflicts, this gesture emphasizes a shared understanding of how crucial cooperation is.

Through this diplomatic effort, Xi and Biden have the chance to establish the foundation for a future marked by collaboration, comprehension and mutual achievements. The general optimism that surrounds these high-level discussions is indicative of a shared desire for a world in which countries cooperate for the benefit of all, regardless of differences.

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