Zürcher Nachrichten - Biden, Xi arrive in Peru ahead of face-to-face at Asia-Pacific summit

EUR -
AED 3.855359
AFN 71.377323
ALL 98.9304
AMD 409.516427
ANG 1.892125
AOA 958.34413
ARS 1056.623594
AUD 1.615519
AWG 1.889397
AZN 1.783436
BAM 1.959346
BBD 2.119737
BDT 125.457077
BGN 1.955898
BHD 0.395617
BIF 3039.829534
BMD 1.049665
BND 1.414788
BOB 7.281457
BRL 6.100126
BSD 1.0499
BTN 88.512294
BWP 14.342507
BYN 3.435719
BYR 20573.431932
BZD 2.116271
CAD 1.468019
CDF 3012.538394
CHF 0.930822
CLF 0.037165
CLP 1025.470248
CNY 7.599311
CNH 7.606927
COP 4605.667141
CRC 535.068474
CUC 1.049665
CUP 27.81612
CVE 110.686953
CZK 25.297954
DJF 186.546724
DKK 7.457556
DOP 63.403524
DZD 140.299428
EGP 52.079328
ERN 15.744973
ETB 129.119469
FJD 2.388985
FKP 0.828518
GBP 0.835408
GEL 2.875939
GGP 0.828518
GHS 16.58171
GIP 0.828518
GMD 74.526346
GNF 9059.657727
GTQ 8.106673
GYD 219.655948
HKD 8.169091
HNL 26.482792
HRK 7.487532
HTG 137.799417
HUF 409.458002
IDR 16637.71341
ILS 3.824506
IMP 0.828518
INR 88.457727
IQD 1375.585844
IRR 44164.650178
ISK 145.073956
JEP 0.828518
JMD 166.621585
JOD 0.744525
JPY 161.875648
KES 135.931727
KGS 91.099783
KHR 4252.192128
KMF 495.96684
KPW 944.698007
KRW 1469.588545
KWD 0.323055
KYD 0.874917
KZT 524.238873
LAK 23050.641277
LBP 94049.974422
LKR 305.502961
LRD 188.939707
LSL 19.03039
LTL 3.099387
LVL 0.634932
LYD 5.127613
MAD 10.574845
MDL 19.19247
MGA 4901.935038
MKD 61.604812
MMK 3409.270632
MNT 3566.761255
MOP 8.413649
MRU 41.886862
MUR 49.039901
MVR 16.227576
MWK 1821.168622
MXN 21.256448
MYR 4.673157
MZN 67.084504
NAD 19.030647
NGN 1771.288201
NIO 38.575455
NOK 11.650062
NPR 141.620031
NZD 1.795658
OMR 0.404098
PAB 1.04992
PEN 3.982432
PGK 4.225689
PHP 61.895602
PKR 291.596027
PLN 4.312506
PYG 8179.805456
QAR 3.821305
RON 4.976566
RSD 116.999844
RUB 109.171889
RWF 1438.040905
SAR 3.941569
SBD 8.799923
SCR 14.330794
SDG 631.372893
SEK 11.529645
SGD 1.412723
SHP 0.828518
SLE 23.858676
SLL 22010.952976
SOS 599.826672
SRD 37.256789
STD 21725.944051
SVC 9.186628
SYP 2637.314389
SZL 19.030664
THB 36.384557
TJS 11.191784
TMT 3.673827
TND 3.338456
TOP 2.458422
TRY 36.294159
TTD 7.131043
TWD 34.062702
TZS 2781.612304
UAH 43.569361
UGX 3890.040978
USD 1.049665
UYU 44.750999
UZS 13467.200332
VES 48.873774
VND 26682.481618
VUV 124.618326
WST 2.930235
XAF 657.15898
XAG 0.034777
XAU 0.0004
XCD 2.836771
XDR 0.803054
XOF 655.517644
XPF 119.331742
YER 262.33747
ZAR 18.932858
ZMK 9448.244693
ZMW 28.950504
ZWL 337.991668
  • RYCEF

    0.0200

    6.82

    +0.29%

  • RIO

    0.8300

    63.18

    +1.31%

  • RBGPF

    -0.9500

    59.24

    -1.6%

  • CMSC

    0.0878

    24.76

    +0.35%

  • BCC

    11.6400

    155.42

    +7.49%

  • NGG

    0.2290

    63.339

    +0.36%

  • BCE

    0.2300

    27

    +0.85%

  • VOD

    0.2010

    8.931

    +2.25%

  • SCS

    0.5750

    13.845

    +4.15%

  • CMSD

    0.1100

    24.57

    +0.45%

  • RELX

    -0.1150

    46.635

    -0.25%

  • JRI

    0.1900

    13.4

    +1.42%

  • BTI

    0.0850

    37.465

    +0.23%

  • AZN

    0.8300

    66.46

    +1.25%

  • GSK

    0.2900

    34.25

    +0.85%

  • BP

    -0.3350

    29.385

    -1.14%

Biden, Xi arrive in Peru ahead of face-to-face at Asia-Pacific summit
Biden, Xi arrive in Peru ahead of face-to-face at Asia-Pacific summit / Photo: Luis ACOSTA - AFP

Biden, Xi arrive in Peru ahead of face-to-face at Asia-Pacific summit

US President Joe Biden and his Chinese counterpart Xi Jinping arrive Thursday in Lima for an Asia-Pacific summit overshadowed by the prospect of a world embroiled in trade wars under Donald Trump.

Text size:

Saturday's face-to-face will likely be the last meeting between the sitting leaders of the world's largest economies before Biden hands the reins back to Trump, who has signaled a confrontational approach to Beijing for his second term in the White House.

Biden and Xi will likely "take stock of efforts to responsibly manage competition," a senior US administration official told reporters Wednesday ahead of the Asia-Pacific Economic Cooperation (APEC) summit.

APEC, created in 1989 with the goal of regional trade liberalization, brings together 21 economies that jointly represent about 60 percent of world GDP and over 40 percent of global commerce.

The summit program was to focus on trade and investment for inclusive growth and innovation for its members' common good.

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

"All that... the APEC leaders and G20 leaders will be talking about is the one world leader who is not there -– and that is Donald Trump," Victor Cha of the Washington-based Center for Strategic and International Studies think tank said this week.

The summits will be "about one thing," he told reporters in Washington: "What to expect from the next Trump administration on trade, alliances."

- 'America First' -

Xi and Biden will meet on the second and final day of the summit that will also bring together leaders and senior officials from Japan, South Korea, Canada, Australia and Indonesia, among others.

Russia's President Vladimir Putin will not attend.

On Thursday, ministers will set the tone for the heads-of-state summit with a meeting of their own.

US Secretary of State Antony Blinken -- whom Trump announced Wednesday he will replace with China hawk Marco Rubio -- will attend the ministerial-level talks along with US Trade Representative Katherine Tai.

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.

The Republican president-elect has threatened to slap tariffs of up to 60 percent on imports of goods from China in an attempt to balance bilateral trade.

China is grappling with a prolonged housing crisis and sluggish consumption that can only be made worse by a new trade war.

But economists say punitive levies will likely also harm the American economy and affect trade with its neighbors and with Europe.

- 'Criminals and drugs' -

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.

It is also expanding its reach into Latin America through infrastructure and other projects under its Belt and Road Initiative.

Xi will on Thursday inaugurate South America's first Chinese-funded port, in Chancay, north of Lima.

Biden, meanwhile, will on Friday meet Japanese Prime Minister Shigeru Ishiba and South Korean President Yoon Suk Yeol -- key US allies in Asia.

Trump has not only China in his economic crosshairs.

The Republican president-elect has threatened tariffs of 25 percent or more on goods coming from Mexico -- another APEC member -- unless it stops an "onslaught of criminals and drugs" crossing the border.

Mexico's new President Claudia Sheinbaum is skipping the Lima summit amid a diplomatic feud with Peru.

Her country has refused to recognize Peruvian President Dina Boluarte, who replaced Pedro Castillo, ousted 18 months after his election in 2021.

Peru has deployed more than 13,000 soldiers to keep the peace in Lima as transport workers and shop owners embarked on three days of protests against extortion by criminal gangs.

On Wednesday, hundreds of demonstrators were stopped by uniformed agents before they could reach the convention center.

I.Widmer--NZN