APEC fails to reach consensus as U.S.-China divide deepens
- 5 years ago
Let's start in Papua New Guinea,... the host for this year's APEC summit.
The annual gathering of leaders from the Asia-Pacific region came to a close on Sunday... without an agreement for the first time since the forum was established a quarter of a century ago.
The main sticking point continues to be the intensifying trade war between the world's two economic superpowers -- the United States and China.
Lee Seung-jae reports.
For the first time since the APEC Summit's inception 25 years ago,... leaders failed to agree on Sunday to a formal joint statement.
According to CNN,... all 21 APEC members in attendance were in agreement,... except one: China.
A diplomat involved in the negotiation process said tensions rose between the U.S. and China with China's Foreign Minister Wang Yi objecting to certain wording in the draft document of the joint agreement.
Sources say phrases like "unfair trade practices" may have caused Beijing's negative reaction as it would appear the blame for the tensions lies at China's feet.
During a speech at the APEC Forum,... U.S. Vice President Mike Pence said there would be no end to the U.S. tariffs on 250-billion dollars of Chinese goods,... until China changes it ways.
Pence said China's trade practices and intellectual property theft goes beyond trade,... and into "concerns about human rights."
He also took aim at Chinese President Xi Jinping's signature 'One Belt, One Road Initiative',... saying countries should not take Chinese development loans because the lead to "staggering debt".
He urged instead, that countries work with the U.S.,... stressing that Washington does not "coerce, corrupt or compromise" their independence.
With the APEC Summit ending without agreement,... Papua New Guinea's Prime Minister Peter O'Neill, in his closing comments said,... the group will try to ensure "free and open" trade by 2020.
He later added the host nation will release a formal closing statement in the coming days.
Lee Seung-jae, Arirang News.
The annual gathering of leaders from the Asia-Pacific region came to a close on Sunday... without an agreement for the first time since the forum was established a quarter of a century ago.
The main sticking point continues to be the intensifying trade war between the world's two economic superpowers -- the United States and China.
Lee Seung-jae reports.
For the first time since the APEC Summit's inception 25 years ago,... leaders failed to agree on Sunday to a formal joint statement.
According to CNN,... all 21 APEC members in attendance were in agreement,... except one: China.
A diplomat involved in the negotiation process said tensions rose between the U.S. and China with China's Foreign Minister Wang Yi objecting to certain wording in the draft document of the joint agreement.
Sources say phrases like "unfair trade practices" may have caused Beijing's negative reaction as it would appear the blame for the tensions lies at China's feet.
During a speech at the APEC Forum,... U.S. Vice President Mike Pence said there would be no end to the U.S. tariffs on 250-billion dollars of Chinese goods,... until China changes it ways.
Pence said China's trade practices and intellectual property theft goes beyond trade,... and into "concerns about human rights."
He also took aim at Chinese President Xi Jinping's signature 'One Belt, One Road Initiative',... saying countries should not take Chinese development loans because the lead to "staggering debt".
He urged instead, that countries work with the U.S.,... stressing that Washington does not "coerce, corrupt or compromise" their independence.
With the APEC Summit ending without agreement,... Papua New Guinea's Prime Minister Peter O'Neill, in his closing comments said,... the group will try to ensure "free and open" trade by 2020.
He later added the host nation will release a formal closing statement in the coming days.
Lee Seung-jae, Arirang News.