President Joe Biden on Thursday made America's case to national leaders and CEOs attending the Asia-Pacific summit that the United States is committed to high standards in trade and to partnerships that will benefit economies across the Pacific.
“We're not going anywhere,” he declared.
Fresh off his meeting with Chinese President Xi Jinping, Biden also told business leaders that the US was “de-risking and diversifying” but not "decoupling.” from Beijing.
But he did not mince words in suggesting the US and friends in the Pacific could offer businesses a better option than China.
He also noted that US economies had invested some $50 billion in fellow Asia-Pacific Economic Cooperation economies in 2023, including in clean energy technologies, aviation and cybersecurity.
“This is not all kumbaya but it’s straightforward," Biden said. “We have real differences with Beijing when it comes to maintaining a fair and level economic playing field and protecting your intellectual property.”
Biden sought to send a clear message about American leadership as business leaders grapple with the risks of doing businesses in the midst of wars in the Middle East and Europe and a still shaky post-pandemic economy.
He was also spending time on Thursday letting Indo-Pacific leaders know that the US is committed to nurturing economic ties throughout the region.
Biden later posed for the traditional “family photo” with other leaders of APEC, the group that includes 21 economies.
US companies, in turn, have invested about $1.4 trillion in APEC economies.
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