Xi Jinping heads to Asia-Pacific summit in Trump's shadow

President Xi Jinping left China on Wednesday for Peru, where he will participate at the summit of the Asia-Pacific Economic Cooperation (APEC), placed under threat of new trade wars in the Trump era.

The Chinese head of state will meet in Lima other leaders of the economies of the zone, which represents 60% of the world's GDP and brings together 21 member countries, including Japan, South Korea, the United States, Mexico and Russia.

Following this meeting, held a few days after Donald Trump's resounding victory in the American presidential election, Xi Jinping will travel to Brazil, where he will participate in the G20 summit.

China, the world's second-largest economy, is struggling with a real estate crisis and sluggish consumption that could worsen with the Republican tycoon back in the White House.

During his campaign, Donald Trump promised to protect American industry, threatening to impose customs duties of 10 to 20% on all imported products and even 60% for those from China.

On the sidelines of the APEC summit, the Chinese head of state will also inaugurate on Thursday with his Peruvian counterpart Dina Boluarte the new megaport of Chancay, located north of Lima.

– Growing influence –

Funded by China to the tune of 3.5 billion dollars (3.3 billion euros), the port terminal, which will eventually have 15 docks, illustrates the growing influence of the Asian giant in Latin America, once considered the preserve of the United States.

At the new megaport of Chancay, north of Lima, on October 29, 2024 © AFP – Cris BOURONCLE

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Bilateral trade between the Asian giant and Peru, one of the fastest growing economies in Latin America over the past decade, amounted to nearly $36 billion (34 billion euros) in 2023.

This makes Peru China's fourth largest trading partner in Latin America.

The Chancay megaport will also benefit Chile, Colombia and Ecuador, among other South American countries. It will allow them to do without Mexican and American ports for their trade with Asia.

Apec ministerial meetings will take place in Lima on Thursday, before the summit of heads of state on Friday and Saturday.

After Peru, Xi Jinping will then go to the G20 summit in Rio de Janeiro, Brazil, a country of which China is the largest trading partner, with more than 180 billion dollars (169 billion euros) of bilateral trade in 2023.

– War in Ukraine –

Since his return to power last year, Brazilian President Luiz Inacio Lula da Silva has been engaged in a delicate balancing act. He seeks to deepen ties with Beijing while hoping to improve relations with Washington.

Presidents of Brazil, Luiz Inacio Lula da Silva (L), and China, Xi Jinping (R), after attending the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg, on August 24, 2023 © AFP – Phill Magakoe

Brazil and China are seeking to position themselves as mediators in the war in Ukraine. Unlike Western nations, they have not sanctioned Russia for its invasion.

In June, Brazilian Vice President Geraldo Alckmin's visit to China was seen as paving the way for Brazil to join China's Belt and Road Initiative (officially known as the Belt and Road Initiative).

This major program aims to build infrastructure and develop maritime, road and rail links between continents, particularly in developing countries.

Several South American countries have already joined the initiative, which is a central plank of Xi Jinping's strategy to increase China's influence abroad.

These nations include Argentina, Chile, Bolivia, Ecuador, Peru and Venezuela.

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