How an Asia-Pacific miracle is taking shape

The Asia-Pacific Economic Cooperation forum in Lima, Peru, sets out to ensure greater prosperity in the region through the implementation of the APEC Putrajaya Vision 2040, which is based on the three pillars of trade and investment, innovation and digitalization, and strong, balanced, secure, sustainable and inclusive growth. This meeting is the annual economic dialogue among countries and regions in the Asia-Pacific region, with the combined economies representing about 60 percent of the world's GDP.

This forum takes place as the world witnesses significant shifts in the economic and technological competitions promoted by the United States through sanctions and the logic of zero-sum games, an elaborate fabric of narratives in which economic security becomes part of national security and free trade comes shackled with protectionist measures and conditions that limit — if not stifle — development. The price being paid for ensuring such kind of economic and technological hegemony is indeed high.

The APEC forum thus cannot be studied in isolation from this reality, a duality in which the US denies access to its most advanced technologies in the name of economic and global security, while China promotes the digital empowerment of different countries through infrastructure and connectivity projects and global initiatives such as the Belt and Road Initiative and the Global Development Initiative. China understands that the growing interconnection and economic integration with other countries can benefit itself, and when China prospers, the rest of the world will be better off.

From this perspective, innovation and digitalization as one of the key themes of the APEC forum is the bridge to promote the transition to a digital global economy. It is necessary to advance the governance models required for the development of policy frameworks and strategies for the formal transition. It requires, in particular, the development of technological and logistical infrastructures to facilitate the connectivity of goods, merchandise, financial and data flows, where China is setting good examples by helping developing countries to construct their own connectivity projects through the digital Belt and Road program and other cooperation.

Examples set by such shared development will allow us to be at the forefront of openness and global development.

That is why, despite a healthy turnout of different international leaders at the APEC forum, Latin American countries are waiting with great expectations for the participation of China. This platform allows many nations to get closely acquainted with and engage in the Chinese dream.

The APEC forum's original potential as a multilateral mechanism of dialogue and cooperation to take on global challenges and consolidate an open, dynamic, resilient and peaceful Asia-Pacific community has expanded to become a platform to promote scientific and technological exchanges and cooperation, sharing digital empowerment, corporate digital identity and the transition to a green economy.

However, the APEC forum also faces challenges in integrating its member economies and reaching an agreement about the present and future global reality. Member economies will be tested with the question of what to do to ensure that the Asia-Pacific remains the world's most dynamic and interconnected regional economy. Most urgently and importantly, they need to strike a consensus on the significance of maintaining and upholding the rules and working functions of the existing multilateral organizations of trade and economic cooperation in delivering an orderly and well-functioning multilateral trading system.

While the APEC forum has been imbued with a great collaborative spirit reflected in the multiple consensus agreements, it is necessary to strengthen high-level political dialogues. There are no winners in zero-sum games, and protectionism cannot solve the US' problems. Neither does an all-but-China mentality. The forum serves as an invitation to dialogue on solutions to current challenges and confrontations, jointly promoting mutually beneficial cooperation, and strengthening scientific and technological exchanges to advance the prosperity of civilizations.

The construction of a long-term temporal vision of the APEC forum depends on at least three factors, namely, ensuring shared benefits, mutual dependence and reciprocity among all parties, and a common ground of interests, benefits and commitments to guarantee its universal shared values.

China's dynamic, innovative and fresh spirit at the APEC forum will leave a deep imprint. In the face of the challenges posed by the West, China's wisdom, solution and strength show the potential of an independent path to progress and prosperity of mankind, offering hope and viable alternatives to nations seeking to expedite development without compromising their autonomy and dignity.

The author is director of the Doctorate Program in Public and Business Management at the Costa Rica-based Central American Institute of Public Administration.