At the APEC summit in Lima, Chinese President Xi Jinping called on member economies to unite against rising protectionism and geopolitical challenges. Speaking at a closed-door meeting, Xi highlighted the importance of collaboration as the world faces a ‘new era of turbulence and transformation’. His comments precede a planned meeting with U.S. President Joe Biden amid uncertainties regarding Donald Trump’s potential return to the presidency and his aggressive trade stance towards China. Xi committed to policies promoting economic openness, stressing that reducing global interdependence would be a setback.