Asia-Pacific Economic Cooperation

The Asia-Pacific Economic Cooperation (APEC) is a 21-member forum established in 1989 to promote free trade and economic cooperation throughout the Asia-Pacific region. APEC aims to facilitate economic growth, cooperation, trade, and investment in the Asia-Pacific region. It is newsworthy due to the upcoming APEC leaders' meeting in Shenzhen and its ongoing role in a world facing increasing geopolitical tensions and trade disputes. Recent developments highlight APEC's continued importance, as evidenced by discussions in Guangzhou focusing on practical cooperation. However, the backdrop includes trade tensions, such as potential US tariff increases on South Korea and broader concerns about US protectionism affecting global trade. The forum's relevance lies in its potential to foster cooperation amidst these challenges, even as individual members navigate complex relationships with major powers like the US and China, as seen in disputes over projects like the Chancay megaport in Peru.