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Source: The post APEC summit 2023 has been created based on the article “To beat China, India must engage with APEC” published in “Indian express” on 24th November 2023.
UPSC Syllabus Topic: GS Paper 2 International Relations – Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests
News: The article is talking about the 2023 APEC summit in San Francisco, which focused on US-China relations, economic discussions, and regional cooperation. It highlights the renewed US-China dialogue, while noting India’s absence and suggesting its greater engagement. India’s absence and suggesting its greater engagement.
What is Asia-Pacific Economic Cooperation (APEC)?
The Asia-Pacific Economic Cooperation (APEC) is a regional forum founded in 1989 to boost economic growth and cooperation in the Asia-Pacific region. It includes 21 members, representing around 62% of global GDP and 48% of world trade in 2021. APEC works on a voluntary basis, focusing on sustainable, balanced, and innovative growth. It doesn’t bind members with treaties but encourages collaboration through capacity-building projects.
India holds ‘observer’ status, as APEC stopped new memberships in 1997 to concentrate on internal cooperation.
What were the key outcomes regarding US-China relations in the 2023 APEC summit?
At the 2023 APEC summit, the US and China resumed their communications after almost a year. This included restoring military communications, which China had
previously suspended, a key step towards better diplomatic and security relations. President Biden emphasized the US’s strategy to reduce reliance on China economically, indicating a significant shift in approach.
However, despite these discussions, no major new agreements were reached, highlighting persistent differences in their global approaches and values.
What is the implication of India’s absence from the 2023 APEC summit?
India has missed following opportunities due to its absence from APEC:
Discussions on regional trade agreements, particularly the Free Trade Area of the Asia-Pacific and the CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership). It will result in absence from shaping economic and trade policies for the Indo-Pacific.
Participation in the Dialogue among the strategic discussion between US, China, and Japan.
To meet its economic goals and position itself as a competitive alternative to China for Foreign Direct Investment (FDI).
Question for practice:
Evaluate the impact of India’s absence from the 2023 APEC summit on regional cooperation in the Asia-Pacific.
