The U.S. and China both touted their partnership credentials to Asian leaders meeting in Bali as they vie for greater economic and strategic influence in a region where trade and growth potential remains high.
Speaking at the Asia-Pacific Economic Cooperation forum yesterday, U.S. Secretary of State John Kerry — standing in for President Barack Obama — and Chinese President Xi Jinping each pledged to work with countries to boost trade and investment. APEC leaders wrap up their meeting today, with most shifting to Brunei for a summit of the Association of Southeast Asian Nations.
Major powers are asserting themselves in Asia as they hunt for new sources of growth, while assuring leaders they are not trying to dominate smaller countries or contain each other. The U.S. is constrained at the summit by Obama’s absence to deal with the partial government shutdown, and China has softened its tone after disputes over waters in the South China Sea rich in oil, gas and fish raised tensions with countries such as Vietnam and the Philippines.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.