The Asia-Pacific Economic Cooperation forum is a membership-based organization that promotes free trade in the region. It currently comprises 21 Pacific Rim member economies, including the US, Russia, China and others.
This year's APEC summit in Beijing totally rocked - in the sense that it not only landed some historic deals, but also amused onlookers, censors and critics. Between #shawlgate and a gum-chewing President Obama, there was a lot to talk about.
The US president has announced Washington’s and Beijing’s agreement to avoid military confrontation by reducing Air Force- and Navy-related incidents. Barack Obama secured the deal after long talks with his China’s Xi Jinping at the APEC summit.
In an era when free trade agreements have helped engender unprecedented Asian growth, the next stage of the Asian tiger will clearly involve inclusive accords, not just bilaterally, but as broadly as possible to give all parties a growth fillip.
President Barack Obama is again pushing international leaders to finalize the trans-Pacific trade deal between 12 countries that would eradicate tariffs and regulations, but critics say the secretive negotiations have been a boon only to corporations.
'Made in China' can be seen on many world's products, but Russian President Vladimir Putin has given his Chinese counterpart Xi Jinping something that he certainly does not have - a Russian-developed world-first dual-screen smartphone.