It’s one of the most important multilateral economic meetings of the year, The Asia-Pacific Economic Cooperation Summit.
Presidents, ministers and finance officials representing gathered in San Francisco this week. What came out of this week’s meetings? And what does it mean for the global economy?
Among the most anticipated moments at APEC was the meeting between Chinese President Xi Jinping and U.S. President Joe Biden. It was the first meeting between the two heads of state since their sit-down in Bali, Indonesia, a year ago.
Faster Global Trade
Juan Carlos Mathews, Trade Secretary of Peru, discussed the groundbreaking construction of the Port of Chancay. It’s China’s most ambitious endeavor in Latin America and is designed to facilitate trade in the Pacific. The $1.3 billion project will offer a direct route to China to cut ship travel time by ten days. He also discussed the importance of the China-Peru bilateral relationships.
“2024 will be a good year for us, and I think we’re going to lead in growth in the region,” Mathews said in the interview.
Sustainable Food Systems
Ertharin Cousin is a global leader in nutrition and food access. She served as the U.S. Ambassador to the UN Agencies for Food and Agriculture, and the executive director of the UN’s World Food Program. Under her tenure, the agency operated in 80 countries and served tens of millions of people. She is the founder and CEO for Food Systems for the Future.
“We must reduce emissions, particularly methane and nitrous accident’s, nitrous oxide, as well as carbon, which are the primary greenhouse gases that are emitted by the food system, because we won’t achieve the food security that [governments are] driving towards for their domestic populations if they don’t address these issues,” Cousin said.
In Malaysia, the government is putting hundreds of millions of dollars into boosting the start-up economy in the Southeast Asian nation. Noor Amy Ismail is the Chief Operating Officer for Malaysia Venture Capital Management, also known as Mavcap.
“The total VC [venture capital investment] in Malaysia [for] female-funded companies is at only 1%. But globally it’s 2%. I mean, for me, practically nonexistent. This is why I am where I am today,” Ismail said.
Pushing Native-led clean energy projects
Worldwide use of renewable energy has grown quickly, but still, only about 30 percent of global electricity generation comes from renewables. How can the shift away from fossil fuels happen faster?
Cheri Smith is the founder and CEO of Alliance for Tribal Clean Energy, which uses solar to eradicate energy poverty.
“Until recently, [clean energy] was a concept and not a viable market,” Smith said in an interview with host Mike Walter. “Now that solar is the cheapest form of electricity generation in the world, people are paying attention, and tribes are recognizing that this is a way that they can engage in the markets of renewable energy and sell power.”
Arts and Culture in San Francisco
As the host city of APEC Summit, host Mike Walter explored some exhibits that highlight the diversity and spirit of San Francisco. We feature exhibits of Filipino artist Pacita Abad and Japanese artist Takashi Murakami.
Latest Company Innovations
Technology company Meta shared their newest virtual reality headset, and Wing, an electric, autonomous plane company, discussed how it’s revolutionizing air travel.