SEOUL, South Korea — Asia Pacific leaders on Saturday closed the annual Asia Pacific Economic Cooperation (APEC) summit with a joint declaration calling for shared prosperity and resilient trade, reflecting the growing fractures in the global economic order.
The meeting, hosted in Seoul, sought to reaffirm regional cooperation even as geopolitical tensions, tariffs, and export controls threaten to reshape the rules of global commerce.
The statement, adopted by all 21 APEC member economies, underscored a cautious consensus: promoting inclusive trade and sustainable growth while avoiding explicit references to multilateralism or the World Trade Organization (WTO).
Analysts viewed this omission as a telling sign of shifting priorities in the post pandemic global economy. The 2025 APEC summit took place against the backdrop of rising economic nationalism and strategic trade rivalries.
In recent years, Washington and Beijing have taken diverging paths on trade and technology policy, straining long standing multilateral frameworks.
Ahead of the summit, US President Donald Trump announced a series of bilateral trade deals with China, South Korea, and Japan. However, he departed Seoul before the leaders’ meeting began, leaving senior officials to represent Washington’s position.
The final declaration echoed themes of economic security, resilience, and cooperation but stopped short of endorsing traditional multilateral trade mechanisms.
“It is a result of member countries acknowledging, at least to some degree, that it will be difficult to restore a free trade order based on multilateralism and the World Trade Organization,” said Heo Yoon, a professor of international trade at Sogang University in Seoul.
Experts say the summit’s outcomes reflect a pragmatic recognition of the changing balance of power in global trade.
While the United States continues to pursue protectionist policies under the banner of economic security, China has positioned itself as a defender of open trade a role reversal from a decade ago.
China used this summit to project stability and continuity, said Dr. Min Seo-jin, a trade policy researcher at the Korea Institute for International Economic Policy.
Beijing emphasized connectivity and digital trade cooperation, contrasting Washington’s focus on securing supply chains and reducing dependencies.
Chinese President Xi Jinping announced that China will host the APEC summit in Shenzhen in 2026, a move seen as symbolic of the nation’s growing influence in shaping Asia Pacific trade norms.
However, analysts cautioned that the declaration’s wording reflected a delicate balance between competing interests. “No country wants to be seen as undermining free trade,” said Heo.
“But at the same time, there is clear hesitation to return to the pre 2018 order dominated by US led liberalization.” According to APEC Secretariat data, intra APEC trade accounted for over 70 percent of total regional trade in 2024, underscoring the bloc’s significance in global commerce.
Yet, the pace of growth has slowed markedly, from 4.3 percent in 2018 to 1.6 percent last year, largely due to tariffs, supply chain disruptions, and shifting investment patterns.
The International Monetary Fund (IMF) reported that Asia Pacific economies collectively contributed nearly two thirds of global growth in 2024, but rising protectionism threatens that trajectory.
The IMF has urged APEC members to pursue “open regionalism” an approach promoting trade liberalization within the region without isolating external partners.
South Korea, this year’s APEC host, highlighted digital transformation and green growth as key policy pillars. “Our goal is to ensure trade resilience through digital connectivity and inclusive innovation,” said South Korean Trade Minister Kim Hee jung.
While the summit focused on high level policy, business leaders and citizens across the region expressed mixed reactions to its outcomes.
“I want to see agreements that actually help small exporters like us,” said Tanaka Hiroshi, who runs a mid sized electronics parts company in Osaka. “Talks about resilience are good, but we need stable rules and fewer tariffs.”
In Manila, small business owner Maria Reyes said she remains skeptical about whether APEC can deliver tangible benefits. “Every year they talk about cooperation, but small traders in Southeast Asia still struggle with inconsistent trade regulations,” she said.
Meanwhile, a logistics executive in Singapore, Lee Wen, said the growing divide between Washington and Beijing adds uncertainty for regional businesses. “Companies are forced to pick sides,” he said.
That’s not good for anyone’s supply chain. Analysts believe APEC’s 2025 declaration sets the stage for a more fragmented but adaptive trade landscape.
With the WTO’s dispute settlement mechanism still limited and major economies turning inward, regional frameworks such as the Regional Comprehensive Economic Partnership and the Comprehensive and Progressive Agreement for Trans Pacific Partnership are expected to play larger roles.
“APEC is moving from a rules-making body to a coordination platform,” said Dr. Park Hyun woo, a senior fellow at the Seoul based Institute for Global Economics.
The emphasis on resilience suggests that countries are preparing for a world where trade disruptions are the norm, not the exception.
The next APEC meeting, set for Peru in 2026, is expected to test whether the forum can maintain its cooperative spirit amid persistent geopolitical competition.
The 2025 APEC summit concluded with a cautious affirmation of shared growth and economic resilience. While the declaration avoided controversial terms like multilateralism, it underscored the region’s determination to keep trade channels open and adaptable.
As China prepares to host the forum in 2026, the Asia Pacific faces a defining challenge: preserving collective prosperity in an era increasingly defined by strategic competition and economic fragmentation.