Dubbed "the center of the global economy" by US Treasury Secretary Janet Yellen, APEC accounts for 37% of the world's population and represents 62% of the global GDP, encompassing 47% of international trade. Traditionally trade-focused, APEC has expanded its cooperation to other areas such as human resources, marine conservation, and public health. Under this year’s APEC agenda “Creating a Resilient and Sustainable Future for All,” the United States sought to emphasize its commitment to supply chain resilience, digital trade, connectivity, and opportunities for small and medium enterprises but failed to deliver on key trade-related outcomes.
Here are five key takeaways from the summit: