In mid-November 2024, the world turned its focus to Lima, Peru, and Rio de Janeiro, Brazil, where the Asia-Pacific Economic Cooperation (APEC) and Group of 20 (G20) leaders’ summits were set to take place consecutively. These meetings occurred amidst significant global challenges, marked by the potential return of Donald Trump as U.S. president. Concerns pervaded over his “America First” policies, which could impact international trade and geopolitical efforts regarding climate change. [para. 1]
Peru and Brazil’s hosting of these summits highlighted their varied approaches and roles in geopolitics. Peru, grappling with internal political instability, kept foreign affairs at a low priority. Conversely, Brazil, led by President Luiz Inácio Lula da Silva, aimed to strengthen its leadership within the Global South and bolster its regional power status. [para. 3]
APEC, with 21 member economies, represents significant global economic interests. At this year’s APEC, Peru prioritized trade inclusivity, economic sustainability, and energy transition. Efforts included enhanced China-Peru trade relations, exemplified by the Chancay Port project. This port, backed by Chinese investment, signifies Peru’s substantial ties with China, its largest trading partner. During the summit, China’s President Xi Jinping engaged outgoing U.S. President Joe Biden in pivotal talks, underscoring issues like the control of nuclear weapons and bilateral communication, eventually reaffirming guiding principles for China-U.S. relations. [para. 5][para. 7]
The G20 summit shortly followed in Brazil, where discussions extended to broader geopolitical tensions. The G20 is considered a crucial global coordination mechanism, uniting major economies across the globe. This summit marked the African Union’s first participation following the European Union, reflecting the globalization and heightened influence of the “Global South” nations. However, Trump’s prospective presidency stirred apprehension about potential disruptions to multilateralism, amplified by ongoing global conflicts like the Russia-Ukraine war. Concerns emerged that Trump’s policies could fracture the G20 framework, hindering international cooperation and responses to crises. [para. 14][para. 21]
Business leaders and political figures expressed anxiety about Trump’s return to policies favoring unilateralism and protectionism. Leaders like Canadian Prime Minister Justin Trudeau and New Zealand’s Christopher Luxon voiced their commitment to maintaining balanced international negotiations and rules-based orders amid trading tensions. Meanwhile, concerns loomed over Trump’s potential impacts on economic policies, global inflation, and market dynamics. [para. 25][para. 33]
Latin America’s geopolitical positioning also surfaced during these meetings. Countries like Mexico, bound by proximity to the U.S., potentially face challenges like increased tariffs under a new Trump administration. In contrast, Peru maintained a balanced diplomatic approach between major economic powers, emphasizing cooperation over polarization. [para. 43][para. 45]
Notably, Chinese investments in Latin America, especially those stemming from the Belt and Road Initiative, signify deepening ties and the potential for enhanced China-Latin America cooperation. Projects like Chancay Port and broader trade engagements underline this growing economic partnership, with China’s investment strategy focused on long-term infrastructure development and trade optimization. [para. 52]
This context unfolded against the backdrop of diminished focus on the Russia-Ukraine conflict at the G20, reflecting challenges in achieving consensus among member nations. Brazil’s hosting stance was perceived as neutral, resisting Western sanctions and proposing peace initiatives to mediate the crisis. European nations had mixed reactions to the summit’s declarations, with leaders expressing dissatisfaction over watered-down statements on Russia’s involvement. Yet, amid rising geopolitical tensions and a potential return to more insular policies under Trump, there remains a cautious acceptance of the complexities involved in navigating these international landscapes. [para. 61][para. 81]
AI generated, for reference only
