BIDEN HAILS ‘POWER OF PACIFIC’ IN APEC SUMMIT TOAST and Biden reached agreements covering fentanyl, military communications and artificial intelligence
U.S. President Joe Biden hailed the “power of the Pacific” in his toast at a gala dinner for heads of delegations at the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco.
Thursday’s dinner came on the heels of a high-stakes summit with Chinese President Xi Jinping where he and Biden reached agreements covering fentanyl, military communications and artificial intelligence on the sidelines of the APEC summit.
APEC members have been closely watching developments between the U.S. and China, the world’s two largest economies and strategic rivals, concerned that intense competition could upset global trade and security.
APEC accounts for about 62% of global GDP and almost half of global trade. It does not though include India, the world’s most populous country, but the South Asian nation was invited to attend as a Guest Economy.