“AMERICA FIRST”
The summit will also be attended by Japan, South Korea, Canada, Australia and Indonesia, among others.
President Vladimir Putin of APEC member Russia will not be present.
Trump’s “America First” agenda is characterized by protectionist stances on global commerce, fossil fuel extraction and foreign conflicts.
It threatens alliances Biden has built on issues ranging from the wars in Ukraine and the Middle East to climate change and trade.
The Republican president-elect has threatened tariffs of up to 60 per cent on imports of Chinese goods to even out what he says is an imbalance in bilateral trade.
China is grappling with a prolonged housing crisis and sluggish consumption that can only be made worse by a new trade war with Washington.
But economists say punitive levies would also harm the American economy.
“CRIMINALS AND DRUGS”
China is an ally of Western pariahs Russia and North Korea and is building up its own military capacity while ramping up pressure on Taiwan, which it claims as part of its territory.
It is also expanding its reach into Latin America through infrastructure and other projects under its Belt and Road Initiative.
Xi will on Thursday inaugurate South America’s first Chinese-funded port, in Chancay, north of Lima.
In an article penned for the official El Peruano newspaper, Xi said Beijing was ready to work with Lima and other partners towards “true multilateralism” and “a universally beneficial and inclusive economic globalisation”.
