18 Nov 2018

APEC summit ends without statement over US-China division

9:21 pm on 18 November 2018

An Asian economic summit has ended without a formal leaders' statement for the first time because of US-China divisions over trade.

No caption

Photo: Supplied

Papua New Guinea's President Peter O'Neill said a closing statement for the Asia-Pacific Economic Cooperation (APEC) summit would instead be released in the coming days.

The US and China revealed competing visions for the region at the summit.

The two countries have been engaged in a tit-for-tat trade war this year.

In his closing comments, Mr O'Neill said APEC would try to ensure "free and open trade" in the region by 2020.

On Saturday Chinese President Xi Jinping took a swipe at the US's America First policy by saying that countries that embraced protectionism were "doomed to failure".

US Vice-President Mike Pence later said he was prepared to "more than double" the tariffs imposed on Chinese goods.

He also criticised China's massive Belt-and-Road infrastructure programme, warning smaller countries that "opaque" Chinese development loans led to "staggering debt".

He urged countries to work with the US instead, saying the US did not "coerce, corrupt or compromise your independence".

Mr Xi insisted that there was no "hidden agenda" to the Belt-and-Road scheme.


Get the RNZ app

for ad-free news and current affairs