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World leaders, CEOs talk trade and economic futures at APEC in San Francisco

CEOs and political leaders from global economies gathered in San Francisco Sunday for APEC’s second day, talking trade, climate, innovation and how to include everyone in those money-making plans. 

There was a heavier police presence in a wider area around the Moscone Center compared to Saturday. Barricades were also waiting in place to go up and fully widen street closures Monday morning, before U.S. delegates officially greet world leaders to APEC 2023. 

President Biden and most leaders from the largest economies aren’t set to arrive in town for a few days, but some high-powered dignitaries were already at the Moscone Center Sunday. 

That included Secretary of the Treasury Janet Yellen, who met with Indonesia’s finance minister as well as delegates from other nations Sunday afternoon.

“This is a particularly exciting time for bilateral relations between the United States and Indonesia…I’d also like to congratulate the government of Indonesia for releasing the comprehensive investment and policy plan,” she said. 

APEC staff members also gave journalists from around the world an update on how the economic alliance is doing, as well as what to expect in the next few years. 

“APEC economic growth is getting more stable than in previous years,” said Director of the APEC Policy Support Unit Carlos Kuriyama. “But we are facing some downside risks.”

Post-pandemic supply chain problems are still hampering trade, according to Kuriyama, who also noted that extreme weather and natural disasters have negatively influenced member economies.

Aging populations will also create more growth headaches, Kuriyama said, as social services costs increase and the available workforce shrinks. 

“Over the long-term, we need to look at demographics, because this is starting to have a certain influence on how much we can grow,” he said. 

These are the kinds of issues attendees will be hammering out in meetings during the week. 

Source: NBC Bay Area

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